Re: Insurance Plan A requires the patient to pay up to the first
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21 May 2020, 14:08
First thing I did was set up 2 equations for each insurance when the bill exceeds the minimum payment requirement
A = 1600 + 0.12(x-1600)
B = 2000 + 0.08(x)
We know that under plan A the patient pays the full amount if it's under or = 1600, same goes for B if the total is under 2000, so instantly options A and B are valid.
I ruled out C because plan B would pay the full 1840, whereas A would pay less (just by glancing at the earlier equation, the actual value A would pay is 1628.8)
Once you hit 2000 on plan B, you have to pay 2000+0.08(total) [this is where word problems get tricky], so I knew that D wasn't a valid option because plan B would pay more than 2000 and A would pay less than 2000
From there, I plugged options E, F, and G into the earlier equations to get my final answer of A,B, and G.
I'm willing to bet there's a quicker way to solve this problem, this was just how I set it up