6. A few months later, Mary is sick again but decides that she cannot afford to go to the doctor this time. Unfortunately, her condition worsens. She is hospitalized for two days and misses eight days of work. Her hospital stay, including medications, costs $2,500. How much does this hospital visit cost Mary (including deductible, co-pay, her 20% share of the cost, and missed work days)?
6. A few months later, Mary is sick again but decides that she cannot afford to go to the doctor this time. Unfortunately, her condition worsens. She is hospitalized for two days and misses eight days of work. Her hospital stay, including medications, costs $2,500. How much does this hospital visit cost Mary (including deductible, co-pay, her 20% share of the cost, and missed work days)?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
6. A few months later, Mary is sick again but decides that she cannot afford to go to the doctor this time. Unfortunately, her condition worsens. She is hospitalized for two days and misses eight days of work. Her hospital stay, including medications, costs $2,500. How much does this hospital visit cost Mary (including deductible, co-pay, her 20% share of the cost, and missed work days)?
Transcribed Image Text:Mary's Story:
Mary is a high school graduate who decided to take a few years to work before entering college.
She is no longer eligible for her parent's insurance and has signed up for her company's PPO
health insurance plan. She pays $637 per year for her insurance premium, and has a $400 yearly
deductible. After she meets the deductible, her insurance will cover 80% of any treatment, while
she will be responsible for 20% of the treatment. Her doctor visit co-pay is $15, her emergency
room co-pay is $75, and her hospital co-pay is $100 for pre-approved admissions. Her co-pays
for prescription medications are $11 for generic drugs and $24 for preferred drugs. Mary does
not get paid time off work.
Mary has two roommates, and her share of the rent and utilities comes to $300 per month.
Because she owns a used car, she has no monthly car payment, but she does pay $80 per month
for car insurance and an average of $120 per month for gas, bringing her average monthly
раy
expenses to $500.
Transcribed Image Text:Health Care on Minimum Wage Worksheet
Example: Mary's Bi-Weekly Minimum Wage Paycheck in Arizona
Earnings
Rate
Hours
This Pay
Year To Date
Period
Regular
$5.85
80
$468
Gross Pay
$468
$11,232
Deductions
Federal Income
$40.20
Тах
Social Security
$29.02
Тах
$6.79
$4.02
Medicare Taх
State Income
Таx
Health
$26.54
Insurance
Net Pay
$361.43
$8,674.32
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