Question: Help me to solve this step by step : What is the cost of a typical health insurance policy for a family of 4 whose

Help me to solve this step by step :

What is the cost of a typical health insurance policy for a family of

4

whose parents are in their

40

?

Assuming the couple makes $

75

K combined annually after taxes, what percentage of their salary would need to go towards the insurance premium? Many reports suggest that health care costs are rising at a rate greater than inflation. Assume that wages will rise at

3 %

but health care costs

(

including the health insurance premium

)

will rise at

3

percent above wages, i

.

.

6 %

annually. Using these numbers, what will a similar

40

year old couple be making

20

years from now? What is the projected cost of the insurance premium

20

years from now? What percentage of the after

-

tax salary would be going towards the health insurance premium?

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