Increased from 25% to 34.8%, public plain increased by 133%, from $8.33 to $19.45. The coinsurance rate for deductibles. A deductible is how much an insured person needs to pay before the insurance kicks in. Co-insurance is what percentage of the cost of an insured item the insured person needs to pay. For example, suppose Sam's health insurance has a deductible of $20 and co-insurance of 25%. If Sam's health care bill is $100, she would have to pay the first $20 of that $100, plus 25% of the remaining $80. The insurance would pay the rest. In this case, Sam would cost $100 in 1997 and would cost about $103.73 in 2017 according to the Patented Medicine Price Index and Canada's CPI for 2016-2017. A patented medicine that Sam lives in Quebec, and her monthly drug costs are $100 in 1997 and $103.73 in 2017. Using information from the quotation above, what percentage of her drug costs would she have to pay in 1997? What percentage of her drug costs would she have to pay in 2017? Show your work. (1 mark for general approach being correct in the work shown, 1 mark for each right answer.)
% of drug costs Sam has to pay in 1997 (to two decimal points, e.g. 10.25%)
% of drug costs Sam has to pay in 2017 (to two decimal points)
