Use computational and algebraic tools to quantify the total costs for each plan using last year$$s medical expenses as an estimate.

Option $1$: The Deluxe Plan

$($You pay $...)$

Option $2$: The Basic Plan

$($You pay $...)$

Co$-$payment for Office Visit $=$ $

$20$

Co$-$payment for Office Visit $=$ $

$30$

Prescription Drugs at $30\%$

Prescription Drugs at $50\%$

Emergency Room Visit $=$ first $

$75$ plus $10\%$ of remaining charge

Emergency Room visit $=$ first $

$75$ plus $30\%$ of remaining charge

Hospital stay or procedures at $10\%$

Hospital stay or procedures at $30\%$

Other approved expenses at $10\%$

Other approved expenses at $30\%$

Monthly premium $=$ $

$425$

Monthly premium $=$ $

$150$

The Bell Family$$s medical expenses from last year are summarized in the table below:

Month

The Bell Family$$s Medical Expenses

January

$3$ office visit$($s$)$ & $

$65$ prescription

February

$1$ Emergency room visit $($charged $

$1,275)$

March

$3$ office visit$($s$)$

July

$1$ office visit$($s$)$

August

Hospital stay for surgery $($hospital$/$doctor charged $

$7,500)$ and $

$95$ prescription

September

$1$ office visit$($s$)$

Including premiums and payments outlined above, what would have been the Bell$$s total medical costs for the year using Option $1$: The Deluxe Plan?

$

$1463$

Incorrect

Your Answer: $6124$

Including premiums and payments outlined above, what would have been the Bell's total medical costs for the year using Option $2$: The Basic Plan?

$

$4417$

Step $4$: Make an Informed Decision

Based on the information presented which option do you think the Bells should select?

Option $1$: The Deluxe Plan

Option $2$: The Basic Plan

Option #

$2$ldehtiry the assumptions that vikolals using to make nis declston.

If the Bell's have health insurance they do not need to have an emergency savings account.

The Bell's medical costs will remain about the same as last year.

If Nikolai works hard, he can get a raise.

If the Bells are careful, they will not need any medical insurance.

Apply Quantitative Tools

Use computational and algebraic tools to quantify the total costs for each plan using last year's medical expenses as an estimate.

The Bell Family's medical expenses from last year are summarized in the table below:

Including premiums and payments outlined above, what would have been the Bell's total medical costs for the year using Option $1$:

The Deluxe Plan?

$

Including premiums and payments outlined above, what would have been the Bell's total medical costs for the year using Option $2$:

The Basic Plan?

$

Make an Informed Decision

Based on the information presented which option do you think the Bells should select?

Option $1$: The Deluxe Plan

Option $2$: The Basic Plan

Option #