Mrs. Smith started a new job at Happy County Hospital, which employs 2,000 people. She meets with HR and is given the following information regarding the
hospital's insurance plan. Each month she will be required to pay $125. Every time
she goes to the doctor she will have to pay $20. The insurance will pay 80% of
her medical costs and she will have to pay 20% of her medical cost until she pays
$6,000. After she pays $6,000 her insurance will cover 100% of her covered
medical expenses. What is Mrs. Smith's premium?*
no