Question

Marcus' employee benefits include family health care coverage. He contributes 25% of the cost. Marcus gets paid weekly and $102 is taken out of each paycheck for family healthcare coverage. How much does his employer contribute annually for coverage?

Answer 1

Monthly amount, M = $102×4 = $408.

Also, yearly amount, Y = M×12 = $408×12 = $4896

It is given that 25% of the cost is contributed by Marcus.

Amount Marcus paid

$=\dfrac{\ 4896 \times 25 }{100}\\\\= \ 1224$

Therefore, his employer contribution annually for coverage is $( 4896 - 1224)=$3672.

Hence, this is the required solution.