b) Now, let’s try “what if”. What if you had medical bills for $10,000 for a minor surgery? What would each of the insurance policies pay if you had not yet paid any deductible? Remember that 20% is your part (coinsurance) so the insurer’s percent is 80% for the first formula. Show how you are getting the answer.

Formulas:
Insurer’s part of Medical Bill = (Bill – deductible) (80%)
Your part of medical bill = Total bill – Insurers part

• AAA+
Insurer’s Part of bill =

Your part of bill =

• Health Today
Insurer’s Part of bill =

Your part of bill =

• Best Insurance
Insurer’s Part of bill =

Your part of bill =

The insurer would cover 80 percent of the insured's claims on the medical bill based on coinsurance agreement. However, the insured would have to pay deductible prior to coinsurance(80,20 share of bill)

Example: if insured's annual deductible is $2000 and coinsurance is 80:20, a medical bill of $10000, assuming the insured has not paid any deductibles, would amount to 80% of $8000(after subtracting deductibles) for the insurer"s cover and the rest for the insured.

Insurance deductibles are paid before your health plan covers its part of the medical bill, usually 80 percent.

Depending on your agreement with the insurer there could also be a copay on the insurance policy.

Learn more here: https://brainly.com/question/13564874