Basic health insurance plan-out-of-pocket expenses

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The Baulding family has a basic health insurance plan that pays 80 percent of out-of-pocket expenses after a deductible of $250 per person. If three family members have doctor and prescription drug expenses of $980, $1,840, and $220, respectively, how much will the baulding family and the insurance company each pay? How could they benefit from a flexible spending account established through Mr. Baulding's employer? What are the advantages and disadvantages of establishing such an account?

Reference no: EM131181377

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