The rising cost of health insurance is a concern for many companies. Marcus wants you to do some calculations related to health insurance costs. Read his memo and provide the information he requests.

TO: Administrative Assistant FROM: Marcus Wilson DATE: July 18, 20- SUBJECT: Health Insurance Costs As you know, rising health care and insurance costs are a concern for all of us. We have learned that we can expect an increase of at least 20 percent in health insurance premiums next year. Currently, the company pays 50 percent of the health insurance premiums for employees. Rafael is not sure whether the company can continue this policy. Please send me a memo with answers to the questions shown below. When I meet with Rafael, we will discuss the information. 1. Currently, employees pay $150 per month for a single plan or $300 per month for a family plan. Assuming a 20 percent increase in premiums, what will be the total monthly cost for a single plan and for a family plan? 2. Assume the company continues to pay 50 percent of the premium. How much per month will an employee pay for a single plan? For a family plan? 3. Assume that the company pays for the 20 percent increase in premiums and allows employees to continue paying their current monthly premium. What would the company's cost be per month for a single plan? For a family plan? Refer to the payroll register to see the type of plan each employee has selected. Assume we have the same employees next year and that each person selects the same type of plan as he or she has this year. If the company pays 50 percent of the premium for each employee, what will be the total annual cost for the company? 5. Again, assume we have the same employees next year and that each person selects the same type of plan. Assume the company pays for the 20 percent increase and employees pay the same premiums as they do now. What will be the total annual cost for the company? I'm sure I do not need to remind you to keep this information confidential. We do not want the employees to be worried about increased premiums at this point. We may also decide to see whether we can get a better deal from another insurance provider