Question

Georgia is considering between two health insurance policies. one includes a deductible of $600 and the other includes a coinsurance of 20%. if a bill is $4,000, how much will she be required to pay under the policy with the coinsurance?

Answer 1

Since the policy with the coinsurance has a coinsurance value of 20%, then, Georgia will be required to pay 20% from the price of the bill.

Since the bill is for 4000$, then the amount to be paid can be calculated as follows:
required payment = (20 / 100) x 4000 = 0.2 x 4000 = 800$