Homework Help is Here – Start Your Trial Now!
Business
Operations Management
Over the course of a year, if you have an annual physical ($370), visit the doctor twice for illness ($50 per visit), and incur prescription drug costs of $500 (10 prescriptions at $50 each), how much would your out-of-pocket expenses be under both the fee-for-service plan and the managed-care option? $___ $ for fee-for-service, and for managed care.

Over the course of a year, if you have an annual physical ($370), visit the doctor twice for illness ($50 per visit), and incur prescription drug costs of $500 (10 prescriptions at $50 each), how much would your out-of-pocket expenses be under both the fee-for-service plan and the managed-care option? $___ $ for fee-for-service, and for managed care.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
See similar textbooks
icon
Related questions
Question
M1
Your employer offers two health plan choices and requires that employees pay part of the premium cost. The fee-for-service option will cost you $270 per month for single coverage, does not cover preventive care, and imposes a $470-per-person annual deductible and 20 percent coinsurance to a limit of $2,170. The fee-for-service plan also covers prescription drugs after a copay of $30 per prescription. The managed care option (an HMO) will cost you $370 per month, covers all medical services (including preventive care and prescription drugs), and requires a $10 copay for each office visit or prescription. Over the course of a year, if you have an annual physical ($370), visit the doctor twice for illness ($50 per visit), and incur prescription drug costs of $500 (10 prescriptions at $50 each), how much would your out-of-pocket expenses be under both the fee-for-service plan and the managed-care option? $. $. for fee-for-service, and for managed care.
Transcribed Image Text:Your employer offers two health plan choices and requires that employees pay part of the premium cost. The fee-for-service option will cost you $270 per month for single coverage, does not cover preventive care, and imposes a $470-per-person annual deductible and 20 percent coinsurance to a limit of $2,170. The fee-for-service plan also covers prescription drugs after a copay of $30 per prescription. The managed care option (an HMO) will cost you $370 per month, covers all medical services (including preventive care and prescription drugs), and requires a $10 copay for each office visit or prescription. Over the course of a year, if you have an annual physical ($370), visit the doctor twice for illness ($50 per visit), and incur prescription drug costs of $500 (10 prescriptions at $50 each), how much would your out-of-pocket expenses be under both the fee-for-service plan and the managed-care option? $. $. for fee-for-service, and for managed care.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS