Suppose that under your health insurance policy, hospital expenses are subject to a $1,000 deductible and $300 per day copay. You get sick and are hospitalized for 4 days, and the bill (after insurance discounts are applied) comes to $12,000. How much of that hospital bill will you have to pay yourself?

Question

tylermckinney16 · Answer

@3mar  @welshfella

3mar · Answer

Well, I am here.

tylermckinney16 · Answer

Thanks can u help?

3mar · Answer

Yes, Of course.
I will not be late for any help.

Let me see

tylermckinney16 · Answer

ok:)

3mar · Answer

"deductible" by how much?

tylermckinney16 · Answer

Idk lol

3mar · Answer

Let us consider that the number of days you will be hospitalized is donated to $x$

then if you entered the hospital for x days, the bill would be:
$$\huge f(x)=300x-1000$$

Does it make sense?

tylermckinney16 · Answer

Yeah

3mar · Answer

Good!

3mar · Answer

How many days you are hospitalized?

tylermckinney16 · Answer

700?

3mar · Answer

you stayed 700 days in the hospital?

tylermckinney16 · Answer

Lol i tried calculating what u said.

3mar · Answer

@welshfella 
If you could help here, I would be grateful!

3mar · Answer

Thanks in advance. @welshfella

welshfella · Answer

I'm not sure what exactly deductable and copay mean.  Is deductable the amount the patient pays ?

welshfella · Answer

Luckily in The UK we have a free health service!

3mar · Answer

hahahahahha
as the same as me at the start of this journey!!!

tylermckinney16 · Answer

Lol idk either.

3mar · Answer

@welshfella 
Can we try together to have an approach!?

welshfella · Answer

Yes OK 
I'm pretty sure that the deductible is what the patient pays - and it covers the whole period of the illness.

tylermckinney16 · Answer

ok

3mar · Answer

"deductible":
able to be deducted, especially from taxable income or tax to be paid.
"child-care vouchers will be deductible expenses for employers"

welshfella · Answer

sorry i was called away

welshfella · Answer

so i guess the copay is what the patient pays in each day of the hospital stay?

3mar · Answer

Yes, I think I agree with that!

3mar · Answer

Copay:
a small fixed amount required by a health insurer to be paid by the insured for each outpatient visit or drug prescription.

welshfella · Answer

To be perfectly honest I'm not sure about this one.

3mar · Answer

This is not from my pocket, I am like you hahah http://www.dictionary.com/browse/copay

welshfella · Answer

Yes

welshfella · Answer

@TylerMckinney16  Sorry i cant be of more help.

welshfella · Answer

gtg right now
see you guys later

3mar · Answer

Thank you for trying to give a helping hand! @welshfella

tylermckinney16 · Answer

yes thanks

tylermckinney16 · Answer

@tkhunny

mathmale · Answer

Suppose that under your health insurance policy, hospital expenses are subject to a $1,000 deductible and $300 per day copay. You get sick and are hospitalized for 4 days, and the bill (after insurance discounts are applied) comes to $12,000. How much of that hospital bill will you have to pay yourself?

Here's the way I see this situation:  The insurance policy will take care of your medical expenses remaining after you've paid the first $1,000 yourself.  That's the meaning of "deductible" here.  Next, each day y ou're in the hospital, you have to pay the first $300 of your expenses.  That's the meaning of "co-pay" here.  

So, you end up paying $1,000 plus ($300/day)*(4 days).  Figure that out.

tylermckinney16 · Answer

$2200 @mathmale

mathmale · Answer

Yes.  Again, that's the way I see it.
Your insurance company would pay everything beyond your $2,200.