Answer :
To determine how much Holly will be responsible for paying each month, we need to calculate her contribution to each of the three plans (medical, dental, and vision) after accounting for her employer's contributions.
First, let’s calculate Holly's employer's contributions to each of the plans.
1. Medical Insurance:
- Monthly Premium: \[tex]$345 - Employer Contribution: 65% Employer's Contribution for Medical = \( 345 \times \frac{65}{100} = 224.25 \) 2. Dental Insurance: - Monthly Premium: \$[/tex]38
- Employer Contribution: 50%
Employer's Contribution for Dental = [tex]\( 38 \times \frac{50}{100} = 19 \)[/tex]
3. Vision Insurance:
- Monthly Premium: \[tex]$23 - Employer Contribution: 75% Employer's Contribution for Vision = \( 23 \times \frac{75}{100} = 17.25 \) Next, we calculate how much Holly has to pay for each of these plans after the employer's contribution. 1. Medical Insurance: - Total Premium: \$[/tex]345
- Employer's Contribution: \[tex]$224.25 Holly's Payment for Medical = \( 345 - 224.25 = 120.75 \) 2. Dental Insurance: - Total Premium: \$[/tex]38
- Employer's Contribution: \[tex]$19 Holly's Payment for Dental = \( 38 - 19 = 19 \) 3. Vision Insurance: - Total Premium: \$[/tex]23
- Employer's Contribution: \[tex]$17.25 Holly's Payment for Vision = \( 23 - 17.25 = 5.75 \) Finally, we sum up Holly's contributions to all three plans to get the total amount she will be responsible for paying each month. Total Holly's Payment = \( 120.75 + 19 + 5.75 = 145.5 \) Therefore, the total amount Holly will be responsible for paying each month is \(\$[/tex] 145.50\).
The correct answer is:
a. \$145.50
First, let’s calculate Holly's employer's contributions to each of the plans.
1. Medical Insurance:
- Monthly Premium: \[tex]$345 - Employer Contribution: 65% Employer's Contribution for Medical = \( 345 \times \frac{65}{100} = 224.25 \) 2. Dental Insurance: - Monthly Premium: \$[/tex]38
- Employer Contribution: 50%
Employer's Contribution for Dental = [tex]\( 38 \times \frac{50}{100} = 19 \)[/tex]
3. Vision Insurance:
- Monthly Premium: \[tex]$23 - Employer Contribution: 75% Employer's Contribution for Vision = \( 23 \times \frac{75}{100} = 17.25 \) Next, we calculate how much Holly has to pay for each of these plans after the employer's contribution. 1. Medical Insurance: - Total Premium: \$[/tex]345
- Employer's Contribution: \[tex]$224.25 Holly's Payment for Medical = \( 345 - 224.25 = 120.75 \) 2. Dental Insurance: - Total Premium: \$[/tex]38
- Employer's Contribution: \[tex]$19 Holly's Payment for Dental = \( 38 - 19 = 19 \) 3. Vision Insurance: - Total Premium: \$[/tex]23
- Employer's Contribution: \[tex]$17.25 Holly's Payment for Vision = \( 23 - 17.25 = 5.75 \) Finally, we sum up Holly's contributions to all three plans to get the total amount she will be responsible for paying each month. Total Holly's Payment = \( 120.75 + 19 + 5.75 = 145.5 \) Therefore, the total amount Holly will be responsible for paying each month is \(\$[/tex] 145.50\).
The correct answer is:
a. \$145.50