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Tax deduction

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Tracy decided to choose an insurance plan, the monthly cost of which is $18 and the deductible is $500. The insurance pays 85% of all expenses after the deductible. The total expenses Tracy spends during the year is $718.76. Tracy's total medical cost of the year with this plan is $_______

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Solution Summary

The solution clearly explains the steps needed to get to the total medical cost. Everyone who is employed face this situation where they have to pay out premiums for their medical coverage. The question asks to calculate the total medical cost and the response does exactly that. Overall, an excellent response.

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Tracy decided to choose an insurance plan, the monthly cost of which is $18 and the deductible is $500. The ...

Solution provided by:
Gaurav Agarwal, MS
Education
  • BE, Bangalore University, India
  • MS, University of Wisconsin-Madison
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