An employer provides group health coverage with the following monthly premiums: employee only, $350;employee with one dependent, $450; and employee with multiple dependents, $550.
a. How much does the employer pay over a 5-year period for an employee with multiple dependents?
b. If that employee had a dependent with a catastrophic illness that cost $97,000 for hospitalization and treatmentsduring that 5-year period, how much did the insurance company lose on that employee, assuming that she had noother medical claims?
c. If an employee with no dependents had no illnesses during that same 5-year period, how much did the insurance company make on that employee?
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