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An employee has a choice of two health insurance plans with the following terms. Assume that both plans cover 100% of expenses after the deductible
An employee has a choice of two health insurance plans with the following terms. Assume that both plans cover 100% of expenses after the deductible and co-payments. Suppose that during a one-year period the employee's family received the following medical bills. Complete parts (a), (b), and (c) below.
$740 An employee has a choice of two health insurance plans with the following terms. Assume that both plans cover 100% of expenses after the deductible and co-payments. Suppose that during a one-year period the employee's family received the following medical bills. Complete parts (a), (b), and (c) below. Total cost Plan A Plan B Expenses (before insurance) Monthly premium: $360 Monthly premium: $760 Jan. 23: Emergency room Annual deductible: $4800 Annual deductible: $1700 Office visit Office visit Feb. 14: Office visit $100 co-payment: $25 co-payment: $25 Apr. 13: Surgery $720 Emergency room Emergency room June 14: Surgery $7000 Co-payment: $200 Co-payment: $100 Surgical operations Surgical operations July 1: Office visit $100 co-payment: $250 co-payment: none Sept. 23: Emergency room $840 a. Determine the health care expenses if the family chooses Plan A. The family's health care expenses with Plan A insurance policy would be $ (b) Annual health care expense as per plan B: (c) Without any insurance plan, add all the expense to find the total amount paidStep by Step Solution
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