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Healthcare Beginner: Introduction to Health Savings Accounts

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1.
Health savings accounts offer Americans a way to _______.
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All of the above. HSAs provide all these opportunities for Americans.
2.
Health savings accounts can help you _______.
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All of the above. HSAs provide all of these opportunities.
3.
Which of the following is not an advantage of HSAs?
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You can use HSA funds tax-free to pay for any expense you want. While you can use your HSA funds tax-free to pay for many medical expenses, unless it is an IRS-approved qualified medical expense it cannot be paid tax-free.
4.
Which of the following is a disadvantage of health savings accounts?
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People who are low income might not enjoy the savings that HSAs provide. If your income is low enough that it is not taxable, then you will not get the tax savings provided by an HSA.
5.
Health savings accounts are completely portable, meaning that you can take your HSA with you when you _______.
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All of the above. You can always keep your HSA account and/or take it with you regardless of changes in your circumstances.