As a part-time employee, Rachel does not qualify for any benefits from her current employer. Seeing a need for a health care program, Rachel went shopping for health insurance and is trying to decide between two options with a national health insurance provider. The benefits of each option are outlined in the tables below. OPTION 1: Fee-for-service OPTION 2: HMO $225 monthly premium $630 monthly premium $7,500 deductible No annual deductible Co-pays: Co-pays: Name-brand Drugs: $30 Name-brand Drugs: $25 Generic Drugs: $12 Generic Drugs $10 Visits: Visits: Primary Care Physician $30 Primary Care Physician $20 Specialist: $75 Specialist: $62 Urgent Care: $100 Urgent Care: $50 Emergency Room: $250 Emergency Room: $175 The first option is a fee-for-service plan with a $7,500 deductible. Rachel must pay the deductible amount in health-related costs (not including co-pays) before the insurance company will contribute. This plan costs $225.00 per month and requires co-pays for most standard healthcare costs. The second option is an HMO. It is significantly more expensive at $630 per month, but has no annual deductible. The standard co-pays are also less than those in the other option. Rachel is a young lady with very few health care requirements. She anticipates one monthly visit to her primary care physician, and one annual visit to her allergy specialist. She has two generic prescription allergy medicines that need to be filled twice a month. If Rachel is able to stay healthy the entire year and does not accrue any additional health care costs, which of the following statements is true for her situation?
In addition to general medical services, Holly would like to add dental and vision options to her health care plan. The monthly premium for her medical insurance is $345 of which her employer pays 65%. Her employer also offers to pay 50% of the monthly dental premium of $38 and 75% of the $23 monthly premium for the vision plan that is offered. If Holly opts for both the dental and vision options in addition to her regular health insurance, how much will Holly be responsible for paying each month? Soopergood Insurance Option Monthly Premium Employer Contribution Health Insurance $345 65% Dental $38 50% Vision $23 75%
Health insurance helps to protect you from financial loss by _____.
The health care Jimmy’s employer offers is a fee-for-service plan in which Jimmy and his family must pay for $12,500 in health related services in a calendar year before the insurance company begins to pay. Jimmy and his family have several health related issues that demand $685.00 each month. If one of Jimmy’s children were to become seriously injured at the end of the year, how much more would Jimmy and his family need to pay before the insurance company begins to assume responsibility?
Andrew is insured by Leroux Health Insurance under Plan A. The plan includes a $248.00 monthly premium with a $5,500.00 annual deductible (not including co-pays).Andrew is severely asthmatic. He visits his primary care physician twice a month and his asthma specialist once a month. He has two separate generic inhalers that need to be refilled on a weekly basis. To make matters worse, Andrew has recently been diagnosed with appendicitis and is scheduled to have his appendix removed in the morning. The procedure will cost about $1,500. Considering his frequent doctor visits, many prescription refills, and his appendix removal in addition to his monthly premium, how much will Andrew pay in health care related fees this year?Leroux Health InsurancePlan A Cost: Monthly Premium: $248.00 Annual Deductible: $5,500.00 Co-pays: Brand-name Prescriptions $35.00 Generic Prescriptions $15.00 Visits: Primary Care Physician: $40.00 Specialist: $60.00 Urgent Care: $125.00 Emergency Room: $325.00
Which of the following health care programs will wait to pay their share of medical coverage until after treatment is provided?
In order to make premiums more affordable for their customers, Leroux Health Insurance is considering some changes to one of the plans they offer. Both the current options and proposed changes are outlined in the charts below. Leroux Health InsurancePlan AProposed Changes Cost: Monthly Premium: $248.00 $203.00 Annual Deductible: $ 5,500.00 $8,500.00 Co-pays: Brand-name Prescriptions $35.00 $30.00 Generic Prescriptions $15.00 $10.00 Visits: Primary Care Physician: $40.00 $30.00 Specialist: $60.00 $45.00 Urgent Care: $125.00 $90.00 Emergency Room: $325.00 $250.00 If Kevin is currently insured under Leroux for his medical insurance under Plan A, how will the proposed changes affect his health care costs?
Patrick and Susie just welcomed a set of twins to their family and have to decide how to purchase health insurance for the babies. Patrick’s employer pays for 100% of his monthly health insurance premium of $378, but will not pay for any of the $280 for each additional beneficiary. Susie’s employer, who pays 63% of her $403 monthly premium, offers to pay 32% of the $310 monthly premium for each additional beneficiary. Which would be the most economical way to purchase health insurance for the family?Patrick's EmployerBeneficiaryMonthly PremiumEmployer ContributionPatrick$378 100%Additional (each)$280 0% Susie's EmployerBeneficiaryMonthly PremiumEmployer ContributionSusie$403 63%Additional (each)$310 32%
Javier’s employer pays for 43% of his annual health insurance premium. Javier pays the remaining balance by having it deducted from his paychecks in equal amounts twice a month throughout the year. If $157.38 is deducted from each of Javier’s paychecks, what is his total annual premium?
Billy’s employer pays for 65% of his annual health insurance premium. Billy has the rest deducted in equal amounts from his paycheck. If Billy has $105.73 withheld from his paychecks twice each month, how much does his employer contribute towards his health insurance on an annual basis?
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