persentages

Question

You visit the doctor and the cost of the visit is $113. You have a copayment of $25, and your insurance will pay 80%. How much will the insurance company pay? How much will you pay?

Answer 1

Total cost of visit :  $113

your co pay:           -$25

 

balance left:            $88

 

Insurance company payment (80% * $88 = $70.40)

 

Your payment:   (20% * 88 = $17.60)

 

BE CAREFUL!   Although 'your payment' is $17.60, you also paid $25 for the co pay.  So you have spent $42.60 out of pocket.

Answer 2

The amount owed after your $25 copay is:

 

$113 - $25 = $88

 

Insurance will pay 80% of the $88, so you must pay the remaining 20% (0.20):

 

$88*(0.20) = $17.60

 

Including your $25 copay, your total payment is:

 

$25 + $17.60 = $42.60 of the $113 doctor's bill