Which of the Following Statements Is False About Health Savings

question 9

Multiple Choice

Which of the following statements is false about health savings acounts (HSAs) ?

• A)HSAs must be paired with qualifying high-deductible health insurance.
• B)Taxpayers qualifying for Medicare do not qualify to make HSA contributions.
• C)Distributions from HSAs which are not used for medical expenses are generally subject to a 20 percent penalty and income taxes.
• D)Distributions from HSAs which are used for qualifying medical expenses are not subject to tax or penalty.
• E)Contributions to HSAs are deductible as itemized medical deductions.

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Definitions:

Menstrual Period

The monthly cycle of changes in the ovaries and the lining of the uterus, leading to the shedding of the uterine lining and bleeding, known as menstruation.

Ovulates

The process whereby an ovary releases an ovum, or egg, preparing the body for possible fertilization.

Fraternal Twins

Twins that develop from two different eggs fertilized by two different sperm, genetically as similar as regular siblings.

Oocytes

Female germ cells or eggs that are in various stages of development, essential for reproduction and fertilization.