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IF function Excel 2010

Posted on 2011-10-29
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Can you guys help me out I trying to calculate the insurance PREMIUM base upon the following information.

Fulltime  employees pay $88 per period

Part-time employees are not eligible for insurance, so they pay nothing.  

Retired employees who are eligible for Medicare pay nothing but otherwise they pay $32 per period.

Thank you,

Name      BirthDate      Sex      Status      Medicare Eligible      Health Plan      Insurance Premium
Sally      5/15/1968          F          FT               N                           HMO      
Susan      4/16/1957         F          R               N                            PPO      
Mohad      2/5/1988        M          PT               N                             HMO      
Listera      6/30/1999       F          FT                N                             PPO      
Jill      12/17/1978          F             PT                N                             PPO      
Joe      3/18/1972          M             R                 Y                             HMO      
Sam      2/2/1948          M             R                 Y                             HMO      

TOTAL                                          $          -  

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Question by:perla1962
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dlmille earned 2000 total points
ID: 37049294
Formula is:

=IF(D10="FT",88,IF(D10="PT",0,IF(E10="Y",0,32)))

then copy down

See attached.

Dave
insurance2.xlsx
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by:dlmille
ID: 37049369
While IF statements are very useful, and you should probably stay with the above recommendation...one can also code the formula as follows (and this is a sign that I'm bored in the middle of the night and really should be sleeping!:

=(D10="FT")*88+AND(D10="R",E10="N")*32 <- also a valid equation for this problem - assumes data starts on row 10 and copy down (replaces formulas in the spreadsheet I attached).

Where all the "positive hits" have multipliers so in this instance

(D10="FT")=TRUE will coerce to a 1 and thus multipled by 88 to get the result

Obviously, one can't be FULL TIME and RETIRED at the same time, so we can add the next formula to this one:

AND(D10="R",E10="N") <- retired and not on medicare = TRUE coerces to a 1 and thus multiplied by 32 to get the result.

Just another way to think about it when the conditions are exclusive - sometimes easier to write or interpret/debug than a nested IF - especially if you have a lot of conditions and they are exclusive ones.
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Author Closing Comment

by:perla1962
ID: 37049393
Exellent Thank you,
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