Asked by Mallory Sheets on Jun 24, 2024
Verified
Refer to Mighty Machinery Company. The Mighty Machinery Company has 20 employees. If the company stopped paying for health benefits for employees' dependents, compute the amount the company would pay this year in health premiums to cover only its employees.
Deductible
The amount an insured person must pay out-of-pocket before the insurance company will cover the remaining costs of a claim.
Medical Bills
Charges for medical services rendered, including hospital stays, doctor consultations, and treatments.
Insurance Premiums
Payments made to an insurance company in exchange for coverage.
- Understand and compute the financial responsibilities and benefits of enrollees in health plans, including premiums, deductibles, and co-payments.
Verified Answer
KJ
Learning Objectives
- Understand and compute the financial responsibilities and benefits of enrollees in health plans, including premiums, deductibles, and co-payments.