Question

You are considering paying $700 per year for a health plan that pays 70% of the first $1,000 of medical costs and 100% of any additional costs over that. If your total medical expenses for the year are $900, is it worth it for you to get the plan?.

Answer 1

Based on the cost of the health plan and the total medical expenses for the year, it is not worth it for you to get the plan.

Is it worth it to get the plan?

In order to determine if it is worth it to get the plan, compare the cost of the health plan to your medical expenses for the year. If your medical expenses for the year is less than the cost, then the plan is worth it.

Medical expense covred by plan is zero since your medical expense is less than $100. Thus the plan is too expensive.

To learn more about cost benefit analysis, please check: https://brainly.com/question/25748668