In 2016, Tim became responsible for providing his own health insurance. He obtained suitable coverage and paid annual premiums as shown in the following table. Compute Tim's total premlums: Except for an occasional minor illness requiring a doctor's attention, a drug prescription, and periodic, routine tests, Tim enjoyed good health during those years. Because he had no reason to think that would change, by the end of 2018 , Tim was considering dropping his health insurance coverage. Atter all, he could think of a lot of other uses for the thousands of dollars he spent each year on increasing premlums. Tim decided to pay premiums for another year but planned to take another look at his health care plan at the end of 2019 . It Could Happen to You, it Could Happen to Me In December 2019, Tim accepted an invitation from friends to go snowboarding. Tim did everything right: took a lesson, stayed on trails well within his skill level, and maintained an awareness of people and objects near hilm. Even though he thought it was a bit dorky to wear wrist guards and d helmet, his friends insisted that he take standard and reasonable safety measures. Tim was enjoying the day when, from out of nowhere (actually, the woods), came an out of control skier who ran into tim. Tim was injured and taken to the nearest hospital by ambulance. Tim's injuries included a broken wrist and elbow as well as cuts and bruises. Of biggest concern was the uncertainty of his head infury. Tim spent a couple of days in intensive care. Fortunately, he didn't have a broken skuil, but did have a concussion. Surgery was performed to repair the broken wrist and elbow. Since Tim was in good health, his recovery was complete. Tim returned to full function in about six months. Soon after Tim returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Tim also had to have physical therapy for his wrist and elbow. His total medical expenses were $40,000. It was time to find out if all those premlums paid since 2016 would pay off for just one, albeit dramatic, incident. In December 2019, Tim accepted an invitation from friends to go snowboarding. Tim did everything right: took a lesson, stayed on trails well within his skill level, and maintained an awareness of people and objects near him. Even though he thought it was a bit dorky to wear wrist guards and a heimet, his friends insisted that he take standard and reasonable safety measures. Tim was enjoying the day when, from out of nowhere (actually, the woods), came an out of control skier who ran into Tim. Tim was injured and taken to the nearest hospital by ambulance. Tim's injurles included a broken wrist and elbow as well as cuts and brulses. Of blggest concern was the uncertainty of his head injury. Tim spent a couple of days in intensive care. Fortunately, he didn' have a broken skull, but did have a concussion. Surgery was performed to repair the broken Wrist and elbow. Since Tim was in good health, his recovery was complete. Tim returned to full function in about six months. Soon after Tim returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Tim also had to have physical therapy for his wrist and elbow. His total medical expenses were $40,000. It was time to find out if all those premlums paid since 2016 would pay off for just one, albeit dramatic, incident. Overall, Tim's insurance paid 75% of the total medical expenses, thus making him responsible for . Tim's insurance paid His out-of-pocket expenses for the accident of plus the 2019 insurance premiums of W of the expenses, or case, did Tim benefit from having health insurance? What are reasonable morals of the story? check all that apply: Don't get sick, It can be financially risky to g0 without health insurance. Avoid engaging in physical activity. Overall, Tim's insurance paid 75% of the total medical expenses, thus making him responsible for % of the expenses, or Tim's insurance paid His out-of-pocket expenses for the accident of plus the 2019 insurance premlums of totaled If Tim had canceled his health insurance at the end of 2018 , his out-of-pocket expenses for the accident would have been case, did Tim benefit from having health insurance? In this What are reasonable morals of the story? Check all that apply. Don't get sick. It can be financiatly risky to go without health insurance. Avoid engaging in physical activity. Your health can change in an instant. Think long and hard about the best tradeoff of coverage and cost in a health care plan. Some employers pay part or all of the health insurance premiums for employees who are enrolled in one of the company's sponsored plans. Assume that during the same time period that Tim paid for his premiums in full that he hod, instead, worked for a firm that paid 75% of his premiums for the same coverage. Instead of paying premiums of over the years, Tim would have paid and saved In this case, Tim's out-of-pocket expenses specific to his snowboarding accident would have been they actually were because