1. Which of the following is not a way health insurance helps to save you money?
a.
In many cases, your employer will pay a certain portion of your health insurance premium.
b.
Some health care plans have made arrangements with health care providers to offer their services at a lower rate.
c.
Many times, you only have to pay a deductible to receive goods or services. The remaining balances are paid by your insurer.
d.
Most health care plans set a portion of your premium aside in an escrow account so that you have money available in case of a medical emergency.
2. Bob’s employer covers 23% of his family’s annual health insurance premium. The balance of the premium is deducted in equal amounts from Bob’s paycheck 26 times over the calendar year. If $185.30 is withheld from each of Bob’s paychecks, what is his family’s annual health insurance premium?
a.
$805.65
b.
$4,817.80
c.
$6,256.88
d.
$20,946.96
Update:for number 2 it is not b 4,817.80 because i failed the homework because of it
Answers & Comments
1)
a.) To me this is a way that your employer, in many ways, saves you money. I do not see that this is an example of health insurance saving you money.
b) a lower rate saves you money
c) playing only a dedutible saves you money (in many cases)
d) money available in emergency saves you money because otherwise you get high fees and interest
In conclusion, pick a
2)
I think multiply 185.30 x 12 since there are twelve months in a year - d'oh noooooooooo
I think multiply 185.30 x 26 that makes a lot more sense dunnit
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