If a company contributes $55 to each employee's monthly healthcare insurance premium and the annual individual premium is $1,980, then the individual monthly premium is $165.

Question

Quizplus · Accepted Answer

To find the individual monthly premium, we first need to divide the annual premium by 12 (since there are 12 months in a year).

$1,980 / 12 = $165

However, the company is contributing $55 towards this monthly premium, so the employee is only responsible for paying $110 per month ($165 - $55).

If a Company Contributes $55 to Each Employee's Monthly Healthcare