Question
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  1. For the deductible plan, the user pays in yearly fees,
    the deductible, and of all medical costs over .
    What would the user pay for total medical costs of (the cost
    of having a baby)?

Ask by Powers Campos. in the United States
Jan 12,2025

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Tutor-Verified Answer

Answer

The user would pay a total of $6,000 for medical costs of $15,000 under the $2,000 deductible plan.

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Bonus Knowledge

To calculate the total payment for medical costs of $15,000 under the described plan, start with the deductible. The user pays $2,000 as the deductible. After that, the remaining cost is $15,000 - $2,000 = $13,000. Since the user is responsible for 20% of the costs over the deductible, they must pay 20% of that $13,000, which is $13,000 × 0.20 = $2,600.
Now, add everything up: $1,400 (yearly fees) + $2,000 (deductible) + $2,600 (20% of the excess) = $6,000 total cost.
So, for the total medical costs of $15,000, the user would pay $6,000.
Isn’t it fascinating how understanding health insurance can impact financial decisions? Just think about how often families have to budget for such unexpected expenses!

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