Sure, let's break down the problem step by step to find the biweekly insurance cost taken from the employee's paycheck:
1. Annual Cost of Health Insurance:
The total cost of health insurance for the employee and their spouse per year is \[tex]$7,540.
2. Employer's Contribution:
The employer pays 70% of the total cost. To find out how much the employer contributes annually:
\[
\text{Employer's Contribution} = \left( \frac{70}{100} \right) \times 7540 = 0.70 \times 7540 = \$[/tex]5,278
\]
3. Employee's Contribution:
The remaining cost after the employer's contribution is the amount the employee has to pay. To find this:
[tex]\[
\text{Employee's Contribution} = 7540 - 5278 = \$2,262
\][/tex]
4. Number of Paychecks per Year:
The employee gets paid biweekly, which means they receive 26 paychecks over the course of a year (52 weeks in a year divided by 2).
5. Biweekly Cost:
To find out how much is taken from each biweekly paycheck, divide the employee's annual contribution by the number of paychecks per year:
[tex]\[
\text{Biweekly Employee Cost} = \frac{2262}{26} = \$87
\][/tex]
So, the amount that is taken from the employee's biweekly paycheck for health insurance coverage is [tex]\( \boxed{87} \)[/tex] dollars.
