Jessie's comprehensive major medical health insurance plan at work has a deductible of $740. The policy pays 65 percent of any amount above the deductible. While on a hiking trip, Jessie contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a five-day hospital stay, totaled $9,253. A friend told her that she would have paid less if she had a policy with a stop-loss feature that capped her out-of-pocket expenses at $4,800.
Calculate the total amount Jessie would pay under the current policy.
Note: Do not round intermediate calculations. Round your answers to 2 decimal places.
Would a $4,800 stop-loss provision on her current policy have reduced Jessie's cost for this illness?