Daryl Morris has a family plan. The HMO annual premium is $12,240. The employer pays 90% cost.
Find the contribution rate. (100% − Employer’s Percent)
Find the annual contribution.
Find the monthly premium. .
(÷12)
The employer pays .90 * 12240 = $ 11016
The emplyee pays .10 *12240 = $ 1224 = annual contribution
Contribution rate = (100% - 90%) = 10%
Monthly premium = 1224 /12 = $102