Answer :
To determine the amount deducted from the employee's biweekly paycheck for health insurance, we can follow a step-by-step solution:
1. Determine the annual cost of health insurance:
The total annual cost of health insurance for an employee and their spouse is [tex]$\$[/tex] 7,280[tex]$. 2. Calculate the portion paid by the employer: The employer covers $[/tex]70\%[tex]$ of the annual cost. \[ \text{Employer's coverage} = \frac{70}{100} \times \$[/tex]7,280 = \[tex]$5,096 \] 3. Find the portion paid by the employee: The employee pays the remaining amount. \[ \text{Employee's coverage} = \text{Total annual cost} - \text{Employer's coverage} = \$[/tex]7,280 - \[tex]$5,096 = \$[/tex]2,184
\]
4. Calculate the biweekly payment by the employee:
There are 26 biweekly periods in a year.
[tex]\[ \text{Biweekly payment} = \frac{\text{Employee's coverage}}{26} = \frac{\$2,184}{26} = \$84 \][/tex]
Thus, the biweekly insurance cost taken from the employee's paycheck is [tex]$\$[/tex]84$.
1. Determine the annual cost of health insurance:
The total annual cost of health insurance for an employee and their spouse is [tex]$\$[/tex] 7,280[tex]$. 2. Calculate the portion paid by the employer: The employer covers $[/tex]70\%[tex]$ of the annual cost. \[ \text{Employer's coverage} = \frac{70}{100} \times \$[/tex]7,280 = \[tex]$5,096 \] 3. Find the portion paid by the employee: The employee pays the remaining amount. \[ \text{Employee's coverage} = \text{Total annual cost} - \text{Employer's coverage} = \$[/tex]7,280 - \[tex]$5,096 = \$[/tex]2,184
\]
4. Calculate the biweekly payment by the employee:
There are 26 biweekly periods in a year.
[tex]\[ \text{Biweekly payment} = \frac{\text{Employee's coverage}}{26} = \frac{\$2,184}{26} = \$84 \][/tex]
Thus, the biweekly insurance cost taken from the employee's paycheck is [tex]$\$[/tex]84$.
