What would be the out-of-pocket cost to an individual whose health care policy includes a 20% co-pay for all long-term illnesses
The policy has a stop loss provision of $40,000. A current long-term illness has resulted in total expenses of $250,000.
A) $8,000
B) $40,000
C) $50,000
D) $210,000
Answer: B
Explanation: B) $250,000 × 0.2 = $50,000 which exceeds the stop loss of $40,000, therefore $40,000 would be paid.
Business
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