Ally estimates that a couple retiring this year will need $275,000 for healthcare costs. Assuming healthcare costs increase by 6% per year, what will a couple who will retire in 12 years need for healthcare costs? A) 553,354 B) 492,483 C) 586,555 D) None of the above
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- Bobbi Hilton, 62, is considering the purchase of a 77-year long-term care policy. If nursing home costs average $7 comma 3907,390 per month in her area, how much could she have to pay out-of-pocket for 77 years without long-term care insurance? What can Bobbi do to reduce the cost of this coverage? Question content area bottom Part 1 The amount Bobbi would have to pay out-of-pocket for 77 years of nursing home costs without long-term care insurance is Bobbi Hilton, 62, is considering the purchase of a 77-year long-term care policy. If nursing home costs average $7 comma 3907,390 per month in her area, how much could she have to pay out-of-pocket for 77 years without long-term care insurance? What can Bobbi do to reduce the cost of this coverage? Question content area bottom Part 1 The amount Bobbi would have to pay out-of-pocket for 77 years of nursing home costs without long-term care insurance is $620760620760. (Round to the nearest dollar.) Part 2 To lower the cost of long-term care insurance, Bobbi can: (Select all the choices that apply.) Select a longer waiting period (time between nursing home admission and payment of benefits by the insurance company.) Buy a long-term care policy as soon as possible before costs increase due to advancing age. Cover the costs of nursing home care through a combination of self-insurance (if she can afford it) and long-term care…If you earned $130,000 this year, you would pay more OASDI and Medicare than your partner who earned $75,000. Do you agree or disagree? Please provide calculations to support your answer
- Because Brooklynn has some health issues, she must pay 15% more for life insurance. About how much more annually will a $130,000 10-year term insurance at age 40 cost Brooklynn than someone of the same age without health issues?If the Potinsky household spends $49,600 annually on all living expenses and long-term debt, calculate the amount recommend for an emergency fund. How might household circumstances, e.g., wage earners in the household, available credit, and type and stability of employment, affect this decision? 1. The emergency fund amount would range from $? to $?. Round to the nearest dollar and enter the range from lowest to highest. 2. The (higher/lower) the number of wage earners in the household, the (more/less) credit available, and the (higher/lower) the stability of employment; the higher the emergency funds should be.What would it cost an insurance company to replace a family’s personal property that originally cost $40,000? The replacement costs for the items have increased 15 percent. Replacement cost: $ ????
- C.J Watson of Clemson, SC, recently had a surgery. His total bill for the surgery, which was his only health care expense for the year, came to $12,890. His health insurance plan has a $500 annual deductible and an 80/20 coinsurance provision (meaning CJ will only pay 20% of the costs). The coinsurance cap for CJ is $2,000. How much of the bill will CJ pay?explain how you would position the applicable and needed insurance solutions to fit both the clients budget and needs for the following instances: Winston and Neisha have been married for almost 40 years. Neisha is 60 and Winston is 63. Neisha works in HR with her present company and has $300,000 in retirement savings. Winston works for the state government which provides him a pension of $1,500 per month (100% transferrable to Neisha) and $200,000 in a 457b plan. They have no debt and full health care benefits through Winston. They will have $2,500 per month combined Social Security income, no debt, and monthly expenses of $5,000. They plan to retire when Winston is 65 years old. Austin and Jenifer are both 35 years old with two (2) children ages 7 & 9. Austin works as an IT Manager with a medium-size firm and his salary is $120,000 annually. Jenifer stays at home with their children and works part-time earning approximately $10,000 to $15,000 a year. They had no other debt…The Tucker family has health insurance coverage that pays 65 percent of out-of-hospital expenses after a deductible of $1,360 per person. If one family member has doctor and prescription medication expenses of $4,000, what amount would the insurance company pay?
- A health insurance company that provides insurance against death has a previous year's reserve of $2,000. Calculate the probability that it will be solvent for the entire year knowing that 100 people use the company, who pay a premium of $100 at the beginning of the year, the probability of dying during the year is 0.01, and the benefit paid is $5000. To what amount can the premium be reduced so that the above probability does not fall below 80%.?Marie wants to provide retirement income for her dependent parents for 35 years should she die. Marie earns $67,500 and feels that her parents could live on 65% of that amount. If the insurance funds could be invested at 5%, how much life insurance does she purchase using the desired income method? Group of answer choices $1,273,499 $1,450,087 $932,743 $877,500The Baulding family has a basic health insurance plan that pays 80 percent of out-of-hospital expenses after a deductible of $ 250$250 per person. If three family members have doctor and prescription drug expenses of $ 684$684, $ 1 comma 496$1,496, and $ 188$188, respectively, how much will the Baulding family and the insurance company each pay? How could they benefit from a flexible spending account established through Mr. Baulding's employer? What are the advantages and disadvantages of establishing such an account? Question content area bottom Part 1 The Baulding family will pay
