1. Michael Murphy is employed at Agilent Technologies. He has family medical coverage through the group medical plan that Agilen

Question

2 years ago

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1. Michael Murphy is employed at Agilent Technologies. He has family medical coverage through the group medical plan that Agilen

t provides for its employees. The annual premium cost for Michael's family is $5,260. The company pays 70 percent of the cost. How much is deducted from his weekly paycheck for medical insurance? (Note: 52 weeks in a year)
$28.12
$29.74
$30.35
$32.66
None of these choices are correct.

2. Brenda Baker has a group health insurance policy from her job at a bank. Her annual premium is $3,500. The policy has a $500 deductible and pays 80% of all medical costs with a stop-loss provision of a limit of $4,000 for out-of-pocket expenses, after the deductible is paid. If Brenda had medical bills totaling $12,000, how much were her out-of-pocket medical costs, including her premiums?
$5,900
$6,300
$6,700
$6,900
None of these choices are correct.

Mathematics

1 answer:

Yakvenalex [24] · Answer 1 · 2023-09-22T04:41:48+03:00

Addition is one of the four fundamental mathematical operations. The correct option is E, None of these choices are correct.

<h3>What is Addition?</h3>

Addition is one of the four fundamental mathematical operations, the others being subtraction, multiplication, and division. When two whole numbers are added together, the total quantity or sum of those values is obtained.

1. The annual premium cost for Michael's family is $5,260. The company pays 70% of the cost. Therefore, the cost he needs to may is,

30% of $5,260

= 0.30 × $5260

= $1578

Since the premium is needed to be paid in 52 week, therefore, the premium cost per week will be,

Premium cost = $1578/52 = $30.35

Hence, the correct option is C, $30.35.

2. Brenda annual premium is $3,500. Also, her medical bills is totaling to $12,000. Therefore, the total amount that is paid by the Brenda in purchasing Insurance and paying the bill is,

Amount Brenda spend = $3,500 + $12,000 = $15,500

The policy has a $500 deductible and pays 80% of all medical costs with a stop-loss provision of a limit of $4,000 for out-of-pocket expenses, after the deductible is paid. Therefore, the amount that she can get is,

Amount she can get = $500 + $4,000 = $4,500

Now, the amount that she needs to pay from her pocket is,

Amount = $15,500 - $4, 500 = $11,000

Hence, the correct option is E, None of these choices are correct.

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