Out of Pocket Cost Calculator

Formula

To calculate the Out of Pocket Cost:

\[ \text{OPC} = D + CI \]

Where:

$\text{OPC}$ is the Out of Pocket Cost
$D$ is the deductible
$CI$ is the coinsurance amount

What is Out of Pocket Cost?

The Out of Pocket Cost refers to the total amount an individual must pay for covered services after the insurance company has made its payments. This includes the deductible and any coinsurance amounts. Understanding this cost helps in budgeting and planning for healthcare expenses.

Example Calculation 1

Let's assume the following values:

Deductible ($D) = 500
Coinsurance Amount ($CI) = 200

Use the formula:

\[ \text{OPC} = 500 + 200 = 700 \]

The Out of Pocket Cost is $700.

Example Calculation 2

Let's assume the following values:

Deductible ($D) = 1000
Coinsurance Amount ($CI) = 300

Use the formula:

\[ \text{OPC} = 1000 + 300 = 1300 \]

The Out of Pocket Cost is $1300.