Over the course of a year, if you have an annual physical ($370), visit the doctor twice for illness ($50 per visit), and incur prescription drug costs of $500 (10 prescriptions at $50 each), how much would your out-of-pocket expenses be under both the fee-for-service plan and the managed-care option? $___ $ for fee-for-service, and for managed care.
Over the course of a year, if you have an annual physical ($370), visit the doctor twice for illness ($50 per visit), and incur prescription drug costs of $500 (10 prescriptions at $50 each), how much would your out-of-pocket expenses be under both the fee-for-service plan and the managed-care option? $___ $ for fee-for-service, and for managed care.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
Related questions
Question
M1
![Your employer offers two health plan choices and
requires that employees pay part of the premium
cost. The fee-for-service option will cost you $270
per month for single coverage, does not cover
preventive care, and imposes a $470-per-person
annual deductible and 20 percent coinsurance to a
limit of $2,170. The fee-for-service plan also covers
prescription drugs after a copay of $30 per
prescription. The managed care option (an HMO)
will cost you $370 per month, covers all medical
services (including preventive care and prescription
drugs), and requires a $10 copay for each office
visit or prescription.
Over the course of a year, if you have an annual
physical ($370), visit the doctor twice for illness
($50 per visit), and incur prescription drug costs of
$500 (10 prescriptions at $50 each), how much
would your out-of-pocket expenses be under both
the fee-for-service plan and the managed-care
option?
$.
$.
for fee-for-service, and
for managed care.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff9a05541-32a5-4c6b-9987-816d55f427b0%2F79ff4893-42e2-40ad-a086-338541146ccd%2Fm5n5wze_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Your employer offers two health plan choices and
requires that employees pay part of the premium
cost. The fee-for-service option will cost you $270
per month for single coverage, does not cover
preventive care, and imposes a $470-per-person
annual deductible and 20 percent coinsurance to a
limit of $2,170. The fee-for-service plan also covers
prescription drugs after a copay of $30 per
prescription. The managed care option (an HMO)
will cost you $370 per month, covers all medical
services (including preventive care and prescription
drugs), and requires a $10 copay for each office
visit or prescription.
Over the course of a year, if you have an annual
physical ($370), visit the doctor twice for illness
($50 per visit), and incur prescription drug costs of
$500 (10 prescriptions at $50 each), how much
would your out-of-pocket expenses be under both
the fee-for-service plan and the managed-care
option?
$.
$.
for fee-for-service, and
for managed care.
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