Mighty Machinery Company
The Mighty Machinery Company subscribes to the Healthy Family Medical Organization. Monthly insurance premiums are: employee without dependents, $350; employee with one dependent, $450; employee with multiple dependents, $550.
The Mighty Machinery Company pays a large part of the premiums for participating employees and their dependents. Participating employees have deducted from their paychecks every month $40 from an employee without dependents, $80 from an employee with one dependent, and $100 from an employee with multiple dependents.
The Healthy Family Medical Organization has a deductible of $300 per year for an employee with no dependents, $450 per year for an employee with one dependent, and $600 per year for an employee with multiple dependents. The organization pays 80% of all medical bills in excess of the deductible.
To answer all questions regarding health insurance, refer to the above information on Mighty Machinery Company.
Refer to Mighty Machinery Company. The Mighty Machinery Company has 20 employees participating in the health plan. Four employees are single, five have one dependent, and 11 have multiple dependents. Compute the amount the employees' health coverage cost Mighty Machinery Company last year.
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