well, just compare the two plans for how much it costs the patient:
400 + 0.35(x-400) > 1000 + 0.25(x-1000)
Two health insurance plans are offered to employees of a company. Plan 1 has a $400 deductible and then pays 65% of the rest of the cost versus plan 2 that has a $1000 deductible and then pays 75% of the rest of the cost. What would annual medical costs have to be for plan 2 to be the least expensive?
1 answer
1 answer