Annual premium = $793.8
Explanations:Note that a premium is the amount that is paid to the insurer on a periodic basis.
The insurance coverage cost semimonthly = $94.50
The monthly insurance coverage cost = 2 x 94.50
The monthly insurance coverage cost = $189
The employer pays 65% of the cost
[tex]\begin{gathered} \text{Amount paid by the employer monthly = }\frac{65}{100}\times189 \\ \text{Amount paid by the employer monthly = \$122.85} \end{gathered}[/tex]Monthly premium = $189 - $122.85
Monthly premium = $66.15
Annual premium = 66.15 x 12
Annual premium = $793.8
