Paco has a traditional health insurance plan. His deductible is $750. The level of co-insurance for his plan is 70/30 where 30 represents Paco’s portion. He also has a one-time co-payment of $20. If Paco incurs a $1,000 hospital bill, how much money will he owe out-of-pocket for the bill?

Question

anonymous · Answer

So automatically, Paco has to pay $750. 
1000-750 = $250
30% (the portion he has to pay) of $250 is $75,
$750 +75 = $825
Then + 20 bucks because of the copay = $845
Paco has to pay $845 out of pocket. Poor guy.