health insurance coverage for an employee and their children is $6,240 per year. Their employer pays 70% of that cost. How much is taken from the employee's biweekly paycheck?

Answer 1

To find out how much is taken from the employee's biweekly paycheck, we need to divide the annual cost by the number of pay periods in a year.

The employee's annual cost is $6,240 per year.
The employer pays 70% of that cost, which is 0.7 * $6,240 = $4,368 per year.

If there are 26 pay periods in a year (biweekly pay), then the employee's biweekly cost would be $4,368 / 26 = $168 per paycheck.

Therefore, $168 is taken from the employee's biweekly paycheck.