What Is the Amount of the Deductible HSA for Each

question 63

Essay

What is the amount of the deductible HSA for each of the following taxpayers?
a. Amelia and Albert, both age 43, have a qualifying high-deductible insurance plan. They contribute $5,700 to a family HSA.
b. Betsy, who is single, 72 years old and covered by Medicare, wants to contribute the maximum amount to an HSA.
c. Carlo has health insurance through his employer which has low deductible amounts. He is 34 years old and is married. Carlo wants to contribute the maximum to an HSA.
d. Diane is 57 years old. She has a qualifying high-deductible insurance plan. She has contributed $5,350 to her HSA.

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Definitions:

Competitive Quantity

is the quantity of goods produced or services offered based on the equilibrium in a competitive market.

Wage Rate

The fixed amount of compensation or payment received by an employee from an employer in exchange for work performed.

Market Quantity

The total amount of a good or service that is bought and sold in a market.

Marginal Expenditure

The additional cost incurred by producing one more unit of a good or service.