Ronald started his new job as a comrolier with Aerosystems today Carole, the employee benefes clerk, gave Renaid a packet that contained information on the company's health insurance options. Aerosystems offers is employees the choice between a private Insurance compeny plan (Blue Cross or Blue Shield, an HMO, and a PPO Ronald needs to review the packet and make a decision on which health care program best fits his needs. The folowing is an overview of that information The monthly premium cost for Ronald for the Blue Cross or Blue Shield pren will be $48.32. For al doctor's office visits. prescriptions, and major medical charges, Ronald wil be responsible for 20 percent end the insurance company will cover 80 percent of the covered charges. The annual deductible is $500 b. The HMO is provided to employees free of charge. The copayment for doctors office visits and major medical charges is $30. Prescription copayments are $5. The HMD pays 100 percent after Ronald's copayment. There is no annual deductible c. The POS requires that the employees pay $33 44 per month to supplement the cost of the program with the company's payment f Ronald uses health care providers within the plan he pays the copayments as described above for the HMO He can also choose to use a health care provider outside of the service and pay 20 percent of the covered charges after he pays $500 deducible. The POS will pay for 80 percent of those covered visits. There is no annuel deducuole for in-network expenses Ronald decided to review his medical bills from the previous year so see what costs he had incumed and to help him evelee his choices. He visited his general physician four times during the year at a cast of $206 for each visit. He and spent $66 end $98 on prescriptions during the year (For the purposes of the POS computation assume that Ronald visited a physician outside of the network plan. Assume he had his prescriptions filed at a network-approved pharmacy) What annual medical costs will Ronsid pay using the sample medical expenses provided if he were to enroll in the Blue Cross or Blue Shield plan Note: Round your intermediate calculations and final answer to 2 decimal places. Annual medical cast

Ronald started his new job as a comrolier with Aerosystems today Carole, the employee benefes clerk, gave Renaid a packet that contained information on the company's health insurance options. Aerosystems offers is employees the choice between a private Insurance compeny plan (Blue Cross or Blue Shield, an HMO, and a PPO Ronald needs to review the packet and make a decision on which health care program best fits his needs. The folowing is an overview of that information The monthly premium cost for Ronald for the Blue Cross or Blue Shield pren will be $48.32. For al doctor's office visits. prescriptions, and major medical charges, Ronald wil be responsible for 20 percent end the insurance company will cover 80 percent of the covered charges. The annual deductible is $500 b. The HMO is provided to employees free of charge. The copayment for doctors office visits and major medical charges is $30. Prescription copayments are $5. The HMD pays 100 percent after Ronald's copayment. There is no annual deductible c. The POS requires that the employees pay $33 44 per month to supplement the cost of the program with the company's payment f Ronald uses health care providers within the plan he pays the copayments as described above for the HMO He can also choose to use a health care provider outside of the service and pay 20 percent of the covered charges after he pays $500 deducible. The POS will pay for 80 percent of those covered visits. There is no annuel deducuole for in-network expenses Ronald decided to review his medical bills from the previous year so see what costs he had incumed and to help him evelee his choices. He visited his general physician four times during the year at a cast of $206 for each visit. He and spent $66 end $98 on prescriptions during the year (For the purposes of the POS computation assume that Ronald visited a physician outside of the network plan. Assume he had his prescriptions filed at a network-approved pharmacy) What annual medical costs will Ronsid pay using the sample medical expenses provided if he were to enroll in the Blue Cross or Blue Shield plan Note: Round your intermediate calculations and final answer to 2 decimal places. Annual medical cast

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter9: Insuring Your Health

Section: Chapter Questions

Problem 2FPE

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