Question

health insurance coverage for an employee and their spouse is $6,760 per year. Their employer pays 70% of that cost. How much is taken from the employee's biweekly paycheck?

Answer 1

$ 78

Explanation:

Given:

• Total annual health insurance coverage cost: $6,760
• Employer pays 70% of the cost.

Amount the employer pays annually.

Employer's contribution = 70% of 6760 = 4732

Annual cost for the employee.

Employee's contribution = Total cost - Employer's contribution

Employee's contribution = 6760 - 4732 = 2028

• Now, let's convert the annual employee contribution to a biweekly amount.
• There are typically 26 biweekly pay periods in a year (assuming the employee is paid biweekly):

`\sf Biweekly \:employee\: contribution\: =\frac{ Annual\: employee \:contribution } {Number\: of\: biweekly\: pay\: periods}`

`\sf Biweekly \:employee\: contribution\: =\frac{ 2028 } {26}=78`