View the step-by-step solution to:

Medical Expense Plan Problems (based on BSU Health Plan) Name: The information on the summary page is sufficient, and the summary pages for each plan...

Remember that the way to figure out how much must be paid by the individual or family in each scenario is:

1) Premiums (this is a fixed cost, paid regardless of claims)

2) Deductible (if expenses exceed the deductible; otherwise, only the expenses are paid)

3) the LESSER of a) applicable coinsurance or b) the out-of-pocket maximum.

Medical Expense Plan Problems (based on BSU Health Plan) Name:_______________ You will need information about each of the BSU Health Plans to be able to complete this assignment. The information on the summary page is sufficient, and the summary pages for each plan are available at http://cms.bsu.edu/about/administrativeoffices/payrolleb/benefits 1. Assume that you have a family with four members. Each person incurs $200 in medical expenses for the year at in-network endorsed medical providers. Under each plan, how much will you pay? (include premiums) Under which plan would your family pay the least? 2. Start over, and assume that one family member incurs $30,000 in medical expenses in a single year at an in-network endorsed provider(no family members incur any other expenses in the year). Under each plan, how much will you pay (include premiums)? 3. Assume that you are an individual. You have one ER visit (costing $3,000 from an “in- network endorsed physician”) and one doctor’s visit (costing $200). How much would you have to pay under each plan? Remember to include premiums. 4. Use the same information from the problem above. This time, assume that the ER visit is from an out-of-network hospital. How much would you have to pay under each of the three plans?
Background image of page 1
5. Assume you have family coverage. One member of your family has $800 in medical expenses, while another has $2000, all at in-network endorsed physicians. How much will your family pay under each plan? Remember to include premiums.
Background image of page 2
Sign up to view the entire interaction

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question