Question

Jay Spring pays $350.00 annually for his health insurance. This is 1/3 of the total cost of the premium; his company pays the rest. He pays a $200 deductible and the plan pays 90% of all expenses beyond the deductible. This year Jay paid expenses of $1,800 beyond the deductible. How much did Jay have to pay excluding his share of the insurance premium? $ How much did Jay's company pay for his insurance premium? $ Jay paid 10% and the plan paid 90% beyond the deductible. How much did Jay's insurance company pay total? $ How much did Jay have to pay total, including his share of the premium? $

Answer 1

Q: How much did Jay have to pay excluding his share of the insurance premium?

A: $1800+$200 = $2000

Q: How much did Jay's company pay for his insurance premium?

A: $700. If Jay's $350 is 1/3 of the premium , then Jay's company pays 2*$350=$700 as rest of his premium.

Q: Jay paid 10% and the plan paid 90% beyond the deductible. How much did Jay's insurance company pay total?

A: Jay's insurance company paid $16200. Given that Jay paid $1800 beyond his deductible of $200 (and that is 10% of the actual cost) means that his plan (insurance company) paid 90%=9*$1800=$16200.

Q: How much did Jay have to pay total, including his share of the premium?

A: Jay paid $2350. He paid $200 deductible + $1800 beyond deductible + $350 premium

Answer 2

1. $2,000

2. $700

3. $16,200

4. $2,350

Explanation:

Jay Spring pays $350.00 annually for his health insurance.

This is 1/3 of the total cost of the premium; his company pays the rest.

He pays a $200 deductible and the plan pays 90% of all expenses beyond the deductible. This year Jay paid expenses of $1,800 beyond the deductible.

The total cost of premium is =
`350*3=1050` dollars

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Part 1.

How much did Jay have to pay excluding his share of the insurance premium?

`200+1800=2000` dollars.

Part 2.

How much did Jay's company pay for his insurance premium?

`1050-350=700` dollars.

Part 3.

Jay paid 10% and the plan paid 90% beyond the deductible. How much did Jay's insurance company pay total?

Let the amount be x , then

`(10)/(100)* x=1800`

x = 18000 dollars

As the company paid 90% of this amount, so the payment becomes:

`0.90*18000=16200` dollars.

Part 4.

How much did Jay have to pay total, including his share of the premium?

`1800+350+200=2350` dollars.