FLVS Math for Data and Financial Literacy Exam: 06.04 Insurance
A patient is 72 years old and a heart attack survivor. A patient's doctor tests their heart regularly with an electrocardiogram to ensure their heart has not worsened. The patient's health insurance policy pays as follows: Number of TestsPercent Covered 1-4 65% 5-8 70% 9-12 75% 13-16 80% > 16 0% If each test costs $125 and the patient receives 22 tests, what are the patient's out-of-pocket expense?
$1,300
A homeowner has paid an annual premium of $1,500 for automobile insurance for 8 years, without filing a single claim. The homeowner gets into an accident during bad weather, and the car valued at $22,500 is totaled. The insurance company pays the claim for the full value of the car, and the homeowner replaces the car. What is the difference between the total premiums paid and what the homeowner would pay if they did not have automobile insurance?
$10,500
A homeowner bought a homeowner's insurance policy. The homeowner pays an annual $650 premium for property coverage with a deductible is $1,175 for each claim. A windstorm causes $42,500 in damages. If a claim for the full amount of damages is approved, how much will the homeowner's insurance company pay for the damages?
$41,325
Which of the following would most likely reduce the monthly premium a policyholder pays for automobile insurance? Buying a minivan Maintaining an accident-free driving record over time Paying a speeding ticket Taking a job with a longer commute by car
I, II
A patient has a choice between four different prescription plans through their health insurance. The options are: Option A: $105 monthly premium with a $15 co-pay per prescription Option B: $100 monthly premium with a $20 co-pay per prescription Option C: $115 monthly premium with a $10 co-pay per prescriptionOption D: $110 monthly premium with a $12 co-pay per prescription Which option is the most expensive if the patient fills 7 prescriptions each month?
Option B
