Reference no: EM132540357

Question 1: Health Savings Accounts (HSAs) are tax-free financial accounts designed to help individuals save for future healthcare expenses

a) True

b) False

Question 2: Health Savings Accounts (HSAs) are particularly helpful to persons over the age of 65 years.

a) True

b) False

Question 3: Unlike Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) do not roll over into the new year and any unused money is forfeited to the employer

a) True

b) False

Question 4: Health Reimbursement Arrangement (HRA) is funded solely by the employer

a) True

b) False

Question 5: There is a strict limit on the amount of money that an employer can contribute to a Health Reimbursement Arrangement (HRA)

a) True

b) False