Comprehensive medical insurance policy | Business & Finance homework help

Mark Meweird has a comprehensive medical insurance policy with a $750 annual deductible, an 80/20 coinsurance clause, and an annual stop-loss of $3,000. Mark has the following sicknesses and expenses. For each medical procedure calculate Mark Meweird’s out-of-pocket expense and his cumulative year-to-date total out-of-pocket expenses. Mark’s annual insurance premium is $785.
QUESTION 1
January 10, broken arm with x-rays. Cost: $1,550
Mark’s deductible is ____Mark’s copayment is _____Mark’s out of pocket expenses (deductible + copay) _____
QUESTION 2
March 15, accidental knife wound while peeling an onion which required stitches. Cost: $333
Mark’s deductible is _____Mark’s copayment is _____Mark’s out of pocket expenses (deductible + copay) ______ QUESTION 3
June 23, cold leading to strep throat. Cost: $30 office visit + $15 for penicillin.
Mark’s deductible is _____Mark’s copayment is ______Mark’s out of pocket expenses is ______
QUESTION 4
September 9, elective abdominal plastic surgery to give Mark a six-pack. Cost: $4,350
Mark’s deductible is ____Mark’s copayment is ____Mark’s out of pocket expenses are ______
QUESTION 5
November 14, heart attack after being mistaken for Tom Cruise, required hospitalization and surgery. Cost $3,500 + $200 for ambulance service.
Mark’s deductible is ______Mark’s copayment is ______Mark’s outof pocket expenses (deductible + copay) _______

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