Answered step by step
Verified Expert Solution
Link Copied!

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Illustrating Finance Policy With Mathematica

Authors: Nicholas L. Georgakopoulos

1st Edition

3319953710, 978-3319953717

More Books

Students also viewed these Finance questions

Question

1. What are your creative strengths?

Answered: 1 week ago

Question

What metaphors might describe how we work together?

Answered: 1 week ago