Mighty Machinery Company The Mighty Machinery Company Subscribes to the Healthy Family Medical

question 12

Short Answer

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. Dankins has been employed by the Mighty Machinery Company for one year. He is single and participates in the company health plan. Dankins just had major surgery costing $16,750. How much more money did the insurance company pay out for Dankins than they received in premiums for Dankins' coverage?​

Analyze the impact of marginal costs and revenues on production decisions.

Differentiate between fixed and variable costs and their relevance to business operations.

Evaluate decision-making scenarios using marginal analysis.

Apply economic principles to group dynamics and productivity.

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Definitions:

Denial

A psychological defense mechanism where a person refuses to acknowledge reality or facts, often in response to uncomfortable truths.

Antioxidant Vitamins

Vitamins that protect the body from damage caused by free radicals, potentially reducing the risk of certain diseases.

Heightened Sense

An increased level of perception, making one more sensitive to stimuli in the environment.

Trait Anxiety

A personality characteristic that reflects a tendency to perceive a wide range of situations as threatening, leading to a more frequent and intense experience of anxiety symptoms.