With a certain medical insurance policy, the customer must first pay an annual $350 deductible, and then the policy covers 70% of the cost of x-rays. The first insurance claims for a specific yea submitted by a person are for two x-rays. The first x-ray cost $600, and the second x-ray cost $900. How much, in total, will he need to pay for these x-rays? He will be responsible for $
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- How can insurance companies offer a guarantee to pay for certain medical expenses? How do they determine the appropriate premium to charge?Ruth Lockwood earns $2,917 a month as a supervisor for Acme Steel. Her group medical coverage costs $3,120 per year. The company pays 75% of the cost of group insurance. How much is deducted each month from her paycheck for medical insurance?Is Healthcare like any other commodity
- Identify how different people and demographics have been affected by telehealth? Has the impact been proportional?Which method would you use to evaluate a new medication based only on the cost? Cost effectiveness analysis, cost utility analysis or a cost benefit analysis and why? How can you perform an economic review?Why can’t a healthy lifestyle and a medical history with no major incidents be enough to guarantee low health care costs going forward?
- Alex contributes 23% of the total cost of her individual health care coverage. She pays $52 bi-weekly towards this contribution. What is the amount Alex's employer contributes for health care coverage for the year?David Herbert earns $2,475 a month as a security guard for Baldwin Enterprises. His group medical insurance costs $3,300 a year. The company pays 80% of the cost of group insurance. How much is deducted each month from his paycheck for medical insurance?What are some of the metrics economists use to measure health outcomes?
- Any two goods in the health marketWhy do you think the cost varies based on a person’s insurance status?How much is Jane’s deductible? What percentage of the bill does Jane’s health care plan pay once co-insurance begins? What percentage of the bill does Jane pay once co-insurance begins? How much is Jane’s out-of-pocket limit? How much does Jane pay after she reaches her out-of-pocket limit?