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    Insurance Coinsurance Pay

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    Michael Howitt of Berkley, Michigan, recently had his gallbladder removed. His total bill for this event, which was his only health care expense for the year, came to $13,890. His health insurance plan has a $500 annual deductible and an 80/20 coinsurance provision. The cap on Michael's coinsurance share is $2,000.

    a. How much of the bill will Michael pay?

    b. How much of the bill will be paid by Michael's insurance?

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    https://brainmass.com/business/the-time-value-of-money/insurance-coinsurance-pay-596718

    Solution Summary

    What is the portion that insured and insurer pay?

    $2.19