A company with 617 employees had the following expenses this year (2018): Cost (each) 14 hospitalizations $5,600 37 physical therapy sessions $340 9 births $1,800 4.1 physician visits per employee $55 2.4 prescriptions filled per employee $21 Populate your answers within the columns below: What is the total expenditures in 2018? Expenditure in 2018 Cost each $ Total cost $ 14 hospitalizations $5,600 $78,400 37 physical therapy $340 $12,580 9 births $1,800 $16,200 4.1 physician visits per employee $55 $225.50 2.4 prescriptions filled per employee $21 $50.40
A company with 617 employees had the following expenses this year (2018):
Cost (each)
14 hospitalizations $5,600
37 physical therapy sessions $340
9 births $1,800
4.1 physician visits per employee $55
2.4 prescriptions filled per employee $21
Populate your answers within the columns below:
What is the total expenditures in 2018?
|
Expenditure in 2018 |
Cost each $ |
Total cost $ |
|
14 hospitalizations |
$5,600 |
$78,400 |
|
37 physical therapy |
$340 |
$12,580 |
|
9 births |
$1,800 |
$16,200 |
|
4.1 physician visits per employee |
$55 |
$225.50 |
|
2.4 prescriptions filled per employee |
$21 |
$50.40 |
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Assuming that the cost of medical care rises 7 percent over the next year, what would the actuarially fair premium be for the next year (2019)?
Total expected expenditure in 2019 = ?
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