Sure, let's work through this step-by-step:
1. Total Annual Insurance Cost:
The annual cost of health insurance for the employee is [tex]$2,470.
2. Employer's Contribution:
The employer pays 80% of the total insurance cost. To find out how much this amounts to, we calculate:
\[
\text{Employer's Contribution} = \frac{80}{100} \times 2470 = 0.8 \times 2470 = 1976
\]
3. Employee's Contribution:
The remaining cost is paid by the employee. To find the employee's contribution, we subtract the employer's contribution from the total cost:
\[
\text{Employee's Contribution} = 2470 - 1976 = 494
\]
4. Biweekly Pay Periods:
There are 26 biweekly pay periods in a year (since a year typically has 52 weeks).
5. Biweekly Employee Contribution:
To find out how much is taken from the employee's biweekly paycheck, we divide the employee's annual contribution by the number of biweekly pay periods:
\[
\text{Biweekly Employee Contribution} = \frac{494}{26} = 19
\]
Conclusion:
The amount taken from the employee's biweekly paycheck for health insurance is \$[/tex]19.
