A health insurance policy pays 60 percent of physical therapy costs after a deductible of $400. In contrast, an HMO charges $25 per visit for physical therapy. How much would a person save with the HMO if he or she had 10 physical therapy sessions costing $100 each? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar) Savings with HMO
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- A health insurance policy pays 65 percent of physical therapy cost after a $200 deductible. In contrast, an HMO charges $15 per visit for physical therapy. How much would a person save with the HMO if they had 10 physical therapy sessions costing $50 each? please show workingYou have a policy with a $1,000 deductible, 80/20 co-insurance, and a $7,500 maximum OOP. You become ill and are hospitalized for two days. The total cost for your treatment is $26,000. Answer the following questions. How much will you pay of the deductible? How much will you pay in co-insurance? What is the total OOP you will pay for this hospital visit? During the same policy year, you have an additional medical expense of $3,500. How much will you pay? What is your total OOP for the year-to-date? Later in the same policy year, you have a $5,000 charge for tests required after your previous hospital stay. How much will you payHealth insurance policy pays 65% of physical therapy cost after deductible of $200. In contrast HMO charges $15 per visit. How much person save with HMO if she had 10 Physical therapy s$50 each?
- You have a 70/30 medical insurance policy with a $1,500 premium and an $850 deductible. You had major surgery totaling $64,200. How much will you have to par for this bill? Max out of pocket is $9100. Group of answer choices $19,005 $19,260 $9100 $19,855You have health insurance coverage that pays 75% of out-of-hospital expenses after a $400 deductible. You incurred doctor and prescription medication expenses of $1090. What amount will the insurance company pay?9. If your medical insurance policy has a $200 deductible and a 100 percent co-payment, how much will you pay on a medical bill of $1,000? (? 10. Co-insurance reduces adverse selection. True or false, explain (: 1
- Health Care Choices. You have a choice of two health insurance plans with the following terms. Assume that both plans cover 100% of expenses after the deductible and co-payments. Plan A Plan B Monthly premium: $300 Monthly premium: $700 Annual deductible: $5000 Annual deductible: $1500 Office visit co-payment: $25 Office visit co-payment: $25 Emergency room co-payment: $500 Emergency room co-payment: $200 Surgical operations co-payment: $250 Surgical operations: no co-payment Suppose that during a one-year period your family received the following medical bills. Service Total cost (before insurance) Jan. 23: Emergency room $800 Feb. 14: Office visit $100 Apr. 13: Surgery $1400 June 14: Surgery $7500 July 1: Office visit $100 Sept. 23: Emergency room $1200 Determine your annual health care expenses if you have Plan A. Determine your annual health care expenses if you have Plan B. Determine your health care expenses for the year if you have…What is the net present value of the cost of treatment A. Treatment A costs $1000 now, $1000 after one year, and $1000 in year 2? (apply a discount rate of 5%). This is for healthcare management area of focus. Please show steps.A consumer’s demand for a medical service is Q=100−PP where PP is the out-of-pocket price she actually faces. She is considering four different insurance options: uninsurance, full insurance, a 50% coinsurance plan, and a copayment plan with a $25 copay. a. Assume this service has a list price of PL =$70. Calculate Q under each insurance plan.b. Calculate the amount of social loss under each insurance plan.c. Derive a general expression for social loss as a function of x and PL, where x is the copay amount under a copayment plan. For simplicity’s sake, assume x<PL.d. Derive a general expression for social loss as a function of y and PL, where y is the coinsurance rate.
- Calculate the life insurance gross premium for an insurance company, XYZ Life, under the following assumptions. Please round your answer to the nearest dollar. 1-year term insurance for a 35-year-old female • The death benefit is $10,00O • The probability of death within one year given a female is 35 years old (q30) is 0.015 The interest rate is 1.5% • All deaths occur uniformly, hence for simplicity, price the product assuming all deaths happen at the middle of the year • XYZ Life is looking for a 25% loading based on the pure premium (i.e. PV of expected loss) (Hint: When loading Ap, expressed as a percentage, is based on pure premium, Gross premium = Pure premium × [1 + Ap]) Choose the correct answer from below. $166 $171 $149 $155 O $186The figure shows estimated medical costs versus what a user actually pays for three health insurance plans with different deductibles. For which plan does the user pay the most for estimated medical costs of $3,000?9. Define out of pocket maximum. a. A flat-rate fee you must pay when receiving any kind of health care service. b. The maximum amount of money your insurance will cover of a certain health care service. c. The maximum amount you will have to pay out of pocket in one year for the benefits your insurance covers. d. The maximum amount of money the insured party will pay toward prescription medications.