I have a medical plan that requires the covered person to meet a deductible at which point the co-insurance kicks in. It could kick in in the middle of a service or after the service is rendered. For example, the deductible is $500 and then the co-insurance is 80/20 where 20% is for the covered person. If I have the first billing at $450 and the second billing is $100 then the co-insurance would kick in for the amount over $500 or $50 so the amount would be $10 (20% x 50) due by the covered person. Finally, the third billing is $200 so the full amount would be subject to co-insurance or $40 (20% x 200).
Can this be written in one formula? Is so how? I tried some conditional statements but that left me with conflicts or the wrong answer.
It all kind of depends on how you want to set up your spreadsheet, but I set one up as follows:
Please let me know if you have further questions.
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