Question

Paul Woonan, a self employed accountant, is married and enrolls in a non-group health insurance plan. The plan costs $7,710 per year for the family coverage. What will he pay each month in premiums?

Answer 1

In this question, we're trying to find how much Paul will pay per month in premiums.

We know that the plan costs $7,710 for a year

In order to find his premium cost per month, we need to get the total price for the year and divide it by 12, since there are 12 months in a year.

Solve:

7,710 ÷ 12 = 642.5‬0

This means that he'll pay $642.5‬0 a month.

Answer:

$642.5‬0