Concept explainers
Health Care Choices. You have 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.
Plan A | Plan B |
Monthly premium: $300 | Monthly premium: $700 |
Annual deductible: $5000 | Annual deductible: $1500 |
Office visit co-payment: $25 | Office visit co-payment: $25 |
Emergency room co-payment: $500 | Emergency room co-payment: $200 |
Surgical operations cop-payment: $250 | Surgical operations: no co-payment |
Suppose that during a one-year period your family received the following medical bills.
Service | Total cost |
(before insurance)
a. Determine your annual health care expenses if you have Plan A.
b. Determine your annual health care expenses if you have Plan B.
c. Determine your health care expenses for the year if you have no health insurance. Does having no health insurance create any other risks for you? Explain.
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Using & Understanding Mathematics: A Quantitative Reasoning Approach with Integrated Review, Loose-Leaf Edition Plus MyLab Math with Pearson eText -- 18 Week Access Card Package
- College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning