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1.
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.
2.
Which of the following tax advantages apply to health savings accounts?
All of the above.
3.
If both your and your employer's contributions to your health savings account do not add up to the maximum amount you are allowed to contribute, you can still contribute more on your own, up to the limit allowed.
True. You may still contribute until you reach the limit.
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.
What is the last date on which contributions to an HSA account may generally be made for the current year?
April 15 of the next year. Contributions must be made no later than the deadline for filing your income tax return with no extensions allowed. For some years, however, the date may be slightly later than April 15.