Dojima
Intern
Joined: 18 Mar 2023
Posts: 12
When filing insurance claims, policy holders must pay up to a deductib[#permalink]14 Apr 2023, 08:21
';$(this).html(tpl);});};}function store_answer( answer ){var timer_duration = 0;//timer_offset = 0;if(timer_stop_time !== null && timer_start_time !== null){timer_duration = Math.floor( ( timer_stop_time.getTime() - timer_start_time.getTime() ) / 1000);}var url = "/forum/timer.php?topic_id=410289&user_id=1&timer_duration=" + timer_duration + "&timer_answer=" + answer + "&r=" + Math.random() + "&sid=e0e22d4ac5d984863047e083875b7525";sendAjax( "GET", url, callbackStoreAnswer );}var timer_offset = 0;function timer_click(){if ( timer_id == 0 ){//document.getElementById('timer_button').src="https://cdn.gmatclub.com/cdn/files/forum/styles/gmatclub_light/theme/images/viewtopic/timer_stop.png";document.getElementById('timer_button').src="https://cdn.gmatclub.com/cdn/files/forum/styles/gmatclub_light/theme/images/viewtopic/timer_pause_btn.png";document.getElementById('timer_message').innerHTML = "";var i = 0;$('.statisticWrap').each(function() {var sumbol = '', value = 0;switch(i){case 0:{sumbol = 'a';value = 11;}break;case 1:{sumbol = 'b';value = 12;}break;case 2:{sumbol = 'c';value = 13;}break;case 3:{sumbol = 'd';value = 14;}break;case 4:{sumbol = 'e';value = 15;}break;}$(this).removeClass('correctAnswer');var tpl = '
'+sumbol.toUpperCase()+'
';$(this).html(tpl);i++;});timer_start_time = new Date();timer_start_time.setTime(timer_start_time.getTime() - timer_offset);document.getElementById('timer_display').classList.add('playing');if(timer_offset > 0)timer_loop();elsedocument.getElementById('timer_display').innerHTML = "00:00";timer_id = setInterval( timer_loop, 200 );selected_answer = null;//document.getElementById('timer_button').style.visibility = 'hidden';//document.getElementById('timer_abcde_block').style.display = 'none';}else{timer_stop_time = new Date();timer_offset = timer_stop_time.getTime() - timer_start_time.getTime();clearInterval( timer_id );timer_id = 0;document.getElementById('timer_button').src="https://cdn.gmatclub.com/cdn/files/forum/styles/gmatclub_light/theme/images/viewtopic/timer_play_btn.png";document.getElementById('timer_display').classList.remove('playing');if(selected_answer !== null)store_answer(0);}}function blink_right_answer(){var element = document.getElementById( 'timer_answer_'+'Official Answer and Stats are available only to registered users.Register/Login.'.toLowerCase() );if ( element != null ){if( element.style.visibility == "hidden" ){element.style.visibility = "visible";} else {element.style.visibility = "hidden";}}}function timer_loop(){var current_time = new Date();var timer_elapsed = 0;var timer_minutes = 0;var timer_seconds = 0;timer_elapsed = current_time.getTime() - timer_start_time.getTime();timer_elapsed = Math.floor(timer_elapsed / 1000);timer_minutes = Math.floor(timer_elapsed / 60);timer_seconds = timer_elapsed - timer_minutes * 60;if( timer_minutes < 10 ){timer_minutes= "0" + timer_minutes;}if( timer_seconds < 10 ){timer_seconds = "0" + timer_seconds;}document.getElementById('timer_display').innerHTML = timer_minutes + ":" + timer_seconds;}function write_timer_message( message ){document.getElementById( 'timer_message' ).innerHTML = message;}/*** !!!*/function write_timer_difficulty( percentile ){// console.log( 'write_timer_difficulty - in_percentile = ' + percentile);if(percentile > 0){var tpl_status = '';if(percentile>0 && percentile<=29){tpl_status += '';tpl_status += '
';tpl_status += '
';}else if(percentile>=30 && percentile<=69){tpl_status += '
';tpl_status += '
';tpl_status += '
';} else if(percentile>=70 && percentile<=99){tpl_status += '
';tpl_status += '
';tpl_status += '
';}var tpl = '';tpl += '
Difficulty:
';tpl += '
';tpl += '';tpl += tpl_status;tpl += '';tpl += '';tpl += ''+getLabelPercentile(percentile)+' ('+getLabelPercentileStatus(percentile)+')';tpl += '
';document.getElementById( 'timer_difficulty' ).innerHTML = tpl;}}/*** !!!*/function getLabelPercentileStatus(in_percentile){var status = 'low';if(in_percentile >= 0 && in_percentile <= 29) {status = 'low';}else if(in_percentile >= 30 && in_percentile <= 69){status = 'medium';} else if(in_percentile >= 70 && in_percentile <= 99){status = 'hard';}return status;}function getLabelPercentile( in_percentile ){var percentile = '0%';if(in_percentile >= 0 && in_percentile <= 9){percentile = '5%';} else if(in_percentile >= 10 && in_percentile <= 19){percentile = '15%';}else if(in_percentile >= 20 && in_percentile <= 29){percentile = '25%';}else if( in_percentile >= 30 && in_percentile <= 39){percentile = '35%';}else if( in_percentile >= 40 && in_percentile <= 49){percentile = '45%';}else if(in_percentile >= 50 && in_percentile <= 59){percentile = '55%';}else if(in_percentile >= 60 && in_percentile <= 69){percentile = '65%';}else if(in_percentile >= 70 && in_percentile <= 79){percentile = '75%';}else if(in_percentile >= 80 && in_percentile <= 89){percentile = '85%';}else if(in_percentile >= 90 && in_percentile <= 99){percentile = '95%';}return percentile;}function enable_timer_answer_group(){if ( show_answer_id != 0 ){clearInterval( show_answer_id );show_answer_id = 0;}var element = document.getElementById( 'timer_answer_' + 'Official Answer and Stats are available only to registered users.Register/Login.'.toLowerCase() );if ( element != null ){element.style.visibility = "visible";}//document.getElementById('timer_button').style.visibility = 'visible';//document.getElementById('timer_abcde_block').style.display = 'block';if( document.getElementById( 'timer_answer_1' ) ){document.getElementById( 'timer_answer_1' ).disabled = false;}if( document.getElementById( 'timer_answer_2' ) ){document.getElementById( 'timer_answer_2' ).disabled = false;}if( document.getElementById( 'timer_answer_3')){document.getElementById( 'timer_answer_3').disabled = false;}if ( document.getElementById( 'timer_answer_a' ) ){document.getElementById( 'timer_answer_a' ).src="https://cdn.gmatclub.com/cdn/files/forum/styles/gmatclub_light/theme/images/viewtopic/buttons/a_white.png";document.getElementById( 'timer_answer_a' ).onclick = function() { timer_answer( 11 ) };}if ( document.getElementById( 'timer_answer_b' ) ){document.getElementById( 'timer_answer_b' ).src="https://cdn.gmatclub.com/cdn/files/forum/styles/gmatclub_light/theme/images/viewtopic/buttons/b_white.png";document.getElementById( 'timer_answer_b' ).onclick = function() { timer_answer( 12 ) };}if ( document.getElementById( 'timer_answer_c' ) ){document.getElementById( 'timer_answer_c' ).src="https://cdn.gmatclub.com/cdn/files/forum/styles/gmatclub_light/theme/images/viewtopic/buttons/c_white.png";document.getElementById( 'timer_answer_c' ).onclick = function() { timer_answer( 13 ) };}if ( document.getElementById( 'timer_answer_d' ) ){document.getElementById( 'timer_answer_d' ).src="https://cdn.gmatclub.com/cdn/files/forum/styles/gmatclub_light/theme/images/viewtopic/buttons/d_white.png";document.getElementById( 'timer_answer_d' ).onclick = function() { timer_answer( 14 ) };}if ( document.getElementById( 'timer_answer_e' ) ){document.getElementById( 'timer_answer_e' ).src="https://cdn.gmatclub.com/cdn/files/forum/styles/gmatclub_light/theme/images/viewtopic/buttons/e_white.png";document.getElementById( 'timer_answer_e' ).onclick = function() { timer_answer( 15 ) };}}/* Timer Mod End-------------- */
Difficulty:
45%(medium)
Question Stats:
62%(02:35)correct38%(02:09) wrong
based on21sessions
HideShowtimer Statistics
When filing insurance claims, policy holders must pay up to a deductible before an insurer begins to take on some of the cost of the claim. Health insurance Plan A has a deductible of $1000 or 50% of total cost, whichever is lower. Plan B comes with deductible of $300, but then pays only 80% of the cost expenses above $300. For which of the following claims would plans A and B pay out equally?
(A) $600
(B) $1000
(C) $3800
(D) $5300
(E) $6200
ShowHide Answer
Official Answer and Stats are available only to registered users.Register/Login.
gmatophobia
Quant Chat Moderator
Joined: 22 Dec 2016
Posts: 3130
Location: India
Concentration: Strategy, Leadership
When filing insurance claims, policy holders must pay up to a deductib[#permalink]14 Apr 2023, 10:44
Dojima wrote:
When filing insurance claims, policy holders must pay up to a deductible before an insurer begins to take on some of the cost of the claim. Health insurance Plan A has a deductible of $1000 or 50% of total cost, whichever is lower. Plan B comes with deductible of $300, but then pays only 80% of the cost expenses above $300. For which of the following claims would plans A and B pay out equally?
(A) $600
(B) $1000
(C) $3800
(D) $5300
(E) $6200
We can use options to our advantage
Payout of Plan A
(A) $600 ------- $ 300 → (50% of $600)
(B) $1000 ------$ 500 → (50% of $1000)
(C) $3800 ------$ 2800 → ($3800 - $1000)
(D) $5300 ------ $ 4300 → ($5300 - $1000)
(E) $6200 ------ $ 6200 → ($6200 - $1000)
Payout of Plan B
(A) $600 ------- $ 240 → (600-300)*0.8
(B) $1000 ------$ 560 → (1000-300)*0.8
(C) $3800 ------$ 2800 → (3800-300)*0.8
Option C
_________________
Want to discuss quant questions and strategies : Join the quant chat group today
Power of Tiny Gains
1.01^(365) = 37.78
0.99^(365) = 0.03
Signature Read More
gmatclubot
When filing insurance claims, policy holders must pay up to a deductib[#permalink]
14 Apr 2023, 10:44