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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)?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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)?

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: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.
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
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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