Refer to Mighty Machinery Company. Carlson, his spouse, and their son are covered by Mighty Machinery Company's health plan. Carlson's doctor bills totaled $2,350 last year. Compute Carlson's total medical costs for the year for premiums, deductible, and his percentage of covered medical bills.​

Deductible

An amount that must be paid out of pocket before an insurance provider will cover any expenses.

Medical Bills

Statements of charges for medical services rendered, typically issued by hospitals, clinics, or healthcare providers.

Insurance Premiums

Payments made to an insurance company in exchange for coverage, which can be due monthly, quarterly, or annually.