Q2. While travelling to Dammam, Qassim is admitted to hospital for major caraccident and need major surgery. His maximum out-of-pocket is SR15, 000. In yourhealth insurance policy stated the following clause on coinsurance and deductible.Calendar year Deductible is equivalent to SR5, o00 and Coinsurance is 25%. Thefollowing is the charges from the treatment:Outpatient x rays and tests is SR5, o00Ward and facility charges is SR20, o00Surgeon's fee is SR, 10,000Prescription drugs is SR7, 000Therapy expenses is SR 8, 000Plastic surgery is SR10,000Dental is SR 5,000Calculate how much you will get coverage from your insurance company based onthe above charges. Your calculation will include:i.Deductibleii,CoinsuranceTotal out of pocketTotal amount the insurance company will pay to you.iii.iv.

A coinsurance reveals a specified proportion of the covered claim the insured needs to pay in case…

Answered: Q2. While travelling to Dammam, Qassim…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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