When answering these questions, assume that Mark pays an annual insurance premium of $785, has...
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Accounting
When answering these questions, assume that Mark pays an annual insurance premium of $785, has a $750 annual deductible, and 80/20 coinsurance clause, and an annual stop-loss of $3,000. For each medical procedure, calculate Mark's out-of-pocket expense and his cumulative year-to-date total out-of-pocket expense. Also assume that the March 15 health event is his first medical expense of the year.
Enter answers as whole dollar amounts without the dollar sign ($)
What is Mark's maximum annual out-of-pocket cost per year?
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