Answered step by step
Verified Expert Solution
Question
1 Approved Answer
an employee extended health plan provides extended health services to the 750 employees of the company. The premiums are 60% paid by the employer and
an employee extended health plan provides extended health services to the 750 employees of the company. The premiums are 60% paid by the employer and 40 % by the employee. Employee use an average of $475 worth of service per employee. The insurance company requires a 25% copayment and the insurance company imposes a 55% loading factor on the insured portion. please determine the copayment, dollar amount of the loading factor, insurance premium and the amount of premium by the employer, annual paid by employee and the total cost of the plan
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started