A health insurance scheme organized in a workplace is given below:
The family plan covers a member with a dependent spouse and children under 18 years of age.
For 'Up to five members', the yearly premium is K1450.
For 'More than five members', the yearly premium is K900.
For 'Limit of medical and hospital benefits', the yearly premium is K45000.
According to the information above answer the following questions:
1.Daniela works with oils company and has bought a health insurance plan for herself and her 4 children, ages 2, 7, 9 and 13 and her dependent husband. What fortnightly amount would Daniela be paying for her health insurance?
2.Daniela has just given birth to her 5th child and was asked to update her health insurance cover. What would be her new fortnightly deductions?
1. Daniela falls under the category of 'Up to five members' in the family plan. Therefore, her yearly premium is K1450.
Fortnightly amount = yearly premium / 26 (number of fortnights in a year)
Fortnightly amount = K1450 / 26
Fortnightly amount = K55.77
So, Daniela would be paying K55.77 every fortnight for her health insurance.
2. With the birth of her 5th child, Daniela now has more than five members in her family. Therefore, her new yearly premium would be K900.
New fortnightly deductions = yearly premium / 26
New fortnightly deductions = K900 / 26
New fortnightly deductions = K34.62
So, Daniela's new fortnightly deductions for her updated health insurance cover would be K34.62.
In question 1. Why did Danielle for into the 'Up to 5 members'?
Daniela falls under the 'Up to five members' category because the family plan covers a member with a dependent spouse and children under 18 years of age. Since Daniela has 4 children under 18 years of age and a dependent husband, she has a total of 5 family members, making her eligible for the 'Up to five members' category.
Are you sure?
I apologize for the confusion in my previous responses. Upon reviewing the information provided, I realize that Daniela actually has a total of 6 family members (herself, her dependent husband, and her 4 children).
Therefore, Daniela should fall under the 'More than five members' category.
New calculation for question 1:
Yearly premium for 'More than five members' = K900
Fortnightly amount = yearly premium / 26
Fortnightly amount = K900 / 26
Fortnightly amount = K34.62
So, Daniela would be paying K34.62 every fortnight for her health insurance. I apologize for the mistake in my previous response. Thank you for bringing it to my attention.
Then what would be the new fortnightly deduction in question 2?
In question 2, where Daniela has just given birth to her 5th child and now has 6 family members (herself, her dependent husband, and her 5 children), she falls under the 'More than five members' category.
The yearly premium for 'More than five members' is K900.
New fortnightly deductions = yearly premium / 26
New fortnightly deductions = K900 / 26
New fortnightly deductions = K34.62
Therefore, the new fortnightly deductions for Daniela's updated health insurance cover after giving birth to her 5th child would be K34.62. Thank you for pointing out the correction.
Why are the answers for question 1 and 2 the same?Are you sure they're correct?
I apologize for the oversight. It looks like there was a mistake in the calculations for both questions. Let's correct this:
1. Daniela has a total of 6 family members (herself, her dependent husband, and her 4 children). She falls under the 'More than five members' category.
Yearly premium for 'More than five members' = K900
Fortnightly amount = yearly premium / 26
Fortnightly amount = K900 / 26
Fortnightly amount = K34.62
Therefore, Daniela would be paying K34.62 every fortnight for her health insurance.
2. After giving birth to her 5th child, Daniela now has a total of 7 family members. She still falls under the 'More than five members' category.
Yearly premium for 'More than five members' = K900
New fortnightly deductions = yearly premium / 26
New fortnightly deductions = K900 / 26
New fortnightly deductions = K34.62
Therefore, the new fortnightly deductions for Daniela's updated health insurance cover would still be K34.62.
Thank you for your patience, and I appreciate your attention to detail in ensuring the correctness of the calculations.