Medical Benefits Journal Assignment
In section 2.3 you how to use inequalities in problem solving. In this journal assignment, you will be applying this knowledge and information regarding various medical plans to decide which plan is the best one for you. There is not one “right” answer to this assignment. Instead, you need to analyze the given information and use skills for solving equations and/or inequalities to form a conclusion. Your conclusion regarding which medical plan to choose needs to be supported by sound reasoning and mathematical equations. You must write an explanation of what your conclusion is and why you chose that plan and support your answer with mathematical equations and/or inequalities. You can type or hand-write this journal, but it must be neat, clear, and mathematically correct (you can hand-write the equations onto a word-processed document if you prefer).
The following is information regarding area medical insurance plans:
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Plan: (names abbreviated)
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Coverage amounts: |
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(1) UMP |
After client pays a $200 annual deductible, the insurance pays 90% of costs |
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(2) WMB |
No annual deductible; insurance pays 60% of costs |
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(3) PW |
After client pays a $150 annual deductible, the insurance pays 80% of costs |
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(4) KCMBS |
After client pays a $100 annual deductible, the insurance pays 70% of costs |
Based on the above information (you can assume none of the plans charge a monthly fee), tell me which medical plan you would choose and why. Your choice must be supported with (several) equations / inequalities and with a written explanation.
The assignment will be collected as part of your journal, due on October 14th, 2002. Do not wait until the last minute to begin the assignment! Because of the time involved for this journal assignment, this journal entry will be worth 6 points (double most entries).