John has a major medical policy with an $800 deductible and 70/30 coinsurance. He incurs a $10,000 covered loss. Which of the following is true?

Insurance

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John has a major medical policy with an $800 deductible and 70/30 coinsurance. He incurs a $10,000 covered loss. Which of the following is true?

a. John pays a total of $800.

b. John pays a total of $3,560.

c. The insurer pays a total of $3,800.

d. The insurer pays a total of $9,200.

Answer: b. John pays a total of $3,560.

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