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1.
Persons with self-only HSA-qualified coverage may contribute the same amount to an HSA each year as persons with family coverage.
False. Individuals with family coverage may contribute more than individuals with self-only coverage each year.
2.
If you do not have HSA-qualified coverage for the entire year, you may still contribute the maximum amount for the year no matter when your coverage begins or ends.
False. If you are not eligible for an HSA for the entire year, you may have to pro-rate your contributions. If you do not have HSA-qualified coverage on December 1, you cannot contribute the full annual amount under any circumstances.
3.
Which of the following tax advantages apply to health savings accounts?
All of the above.
4.
If your employer makes contributions to your HSA account, who decides how frequently your employer makes these contributions?
The employer. The company decides how frequently to make the contributions.
5.
When your employer contributes to your health savings account, your employer can limit what you spend the money on.
False. Your employer cannot tell you what to do with the funds after they have been contributed to your account.