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keyone keyone
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7 years ago
Your personal health insurance policy provides the following coverage:

For all covered medical bills, you must pay a $100 annual aggregate deductible.
After meeting that deductible, you must share in all additional expenses on a 90/10
basis. In any one year, your out-of-pocket maximum expenditure will not exceed $1,000.

In 2009 you fall and crack your skull. The covered medical bills you incur total $7,100. How much will you have to pay for this loss, and how much will the insurer pay?
A) You pay $100, your insurer pays $7,000.
B) You pay $800, your insurer pays $7,000.
C) You pay $800, your insurer pays $6,300.
D) You pay $1,000, your insurer pays $6,100.
Textbook 
Introduction to Risk Management and Insurance

Introduction to Risk Management and Insurance


Edition: 10th
Authors:
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nationalnational
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7 years ago
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