A patient comes in for a medical procedure priced at $1,500. The patient's health insurance plan has a $1,000 annual deductible, of which $400 has already been met for the current year. After the deductible is satisfied, the insurance plan covers 80% of medical expenses. How much is the patient responsible for paying after the insurance coverage is applied?
The patient has already paid $400 towards their deductible, leaving $600 remaining. The cost of the procedure will first be applied to satisfy the remaining deductible, which is $600. After the deductible is met, the insurance covers 80% of the remaining procedure cost ($900). The insurance will pay $720 (80% of $900), and the remaining 20% of the covered amount, which is $180, will be the patient's responsibility. Therefore, the patient’s total payment after insurance coverage is the remaining deductible ($600) plus their 20% coinsurance share ($180), totaling $780.
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