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Sean Adams has health insurance that pays 80 percent of covered charges after a $100 deductible. He received a statement for $700 in covered charges. How much will Sean have to pay?

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TaeKwonDoIsDead

Answer:

$220

Step-by-step explanation:

Basically, the insurance company does these 3 things:

Takes the statement of covered charges

Subtracts 100 dollars from it

Pays 80% of the remaining

So,

Sean has covered charges of 700

Insurance company deducts 100, so remaining is 700 - 100 = 600

Now insurance company pays 80% of this, 600 * 0.8 = 480

Now,

$480 is paid off by insurance company, so Sean has to pay the remaining. Which is:

700 - 480 = $220

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