Sheldon has a traditional health insurance plan. He has a $200 deductible. The level of co-insurance for his plan is 90/10, where 10 represents Sheldon’s portion. He does not have a co-payment. If Sheldon incurs a $1,500 hospital bill, how much money will the insurance company pay for the bill?
The answer is $1,170. The hospital bill is $1,500 less the $200 deductible which is $1,300. Sheldon will then pay for 10% of his portion so multiply $1,300 by 10% with is $130 and deduct it to $1,300 which gives you $1,170.
