Steven has a major medical policy with a $350 flat deductible and 80/20 coinsurance. If the covered loss is $5,500, how much will the insurer pay?

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Steven has a major medical policy with a $350 flat deductible and 80/20 coinsurance. If the covered loss is $5,500, how much will the insurer pay?

a. $1,030

b. $1,100

c. $4,120

d. $4,400

Answer: c. $4,120

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