Application Time! Jessica just got married! Help her select health insurance for her family! From...

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Accounting

Application Time! Jessica just got married! Help her select health insurance for her family! From the two plans, which plan would be best if they estimate their
Q3
medical cost at a low amount and a high amoun t (info sheet). Help them determine how much of their risk they should transfer and how much would retain for each plan.
\table[[Step 1: Determine Total Medical Cost,High Medical Costs,,,],[Step 2: What is the Deductible,FirstCare Bronze,,,],[FirstCare Gold,,,],[Step 3: Subtract Deductible from the total medical cost,FirstCare Bronze,$,\table[[-],[-]],],[FirstCare Gold,$,-,],[Step 4: What is the dollar amount in coinusrance the family will pay?,FirstCare Bronze,$,-,30% coinusrance],[FirstCare Gold,$,-,20% coinsurance],[Step 4: What is the total out-of-pocket cost?,FirstCare Bronze,$,,],[FirstCare Gold,$,-,]]
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