Question

Suppose you have a health insurance policy with an annual premium of​ $4800, an annual deductible of​ $1000, and copayments of​ $25 for visits to the​ doctor's offices. Suppose you go through the year with no medical bills at all. What is your total cost for the​ year?

Answer 1

Answer:

Total cost for the year=$5,800

Explanation:

Finding the total cost of healthcare for a year, we can express this in the form;

Total cost for the year=Annual premium cost+annual deductible+Co-payments

since there were no visits to the doctors office for that year, the co-payments that are to be made per visit=0

Annual premium cost=$4800

Annual deductible cost=$1000

replacing in the expression for total cost;

Total cost for the year=Annual premium cost+annual deductible+Co-payments

Total cost for the year=(4,800+1,000+0)=5,800

Total cost for the year=$5,800