Which Is a Characteristic of a Flexible Spending Account (FSA)

question 54

Multiple Choice

Which is a characteristic of a flexible spending account (FSA) ?

• A) FSA allows you to put money aside on a pretax basis each year subject to annual maximums set by the IRS that must be used toward qualified medical and dental expenses typically within the calendar year.
• B) FSA allows you to put money aside on an after-tax basis each year subject to annual maximums set by the IRS that must be used toward qualified medical and dental expenses typically within the calendar year.
• C) The use of FSAs is limited to those with high-deductible health plans, and any money that remains in the account can continue to grow on a tax-deferred basis and used anytime to pay medical expenses on a tax-free basis.
• D) The use of FSAs is limited to those with high-deductible health plans, and any money that remains in the account must be used toward qualified medical expenses typically within the calendar year.

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Definitions:

Psychological Safety

The belief that one can speak up, take risks, or admit mistakes without fear of punishment or humiliation within a team or organization.

Employee Voice

Refers to the ways employees can express their opinions, concerns, or suggestions regarding their work or workplace conditions, typically aiming to improve organizational effectiveness.

Positive Climate

A work environment characterized by support, mutual respect, and a positive attitude among members.

Conscientious

Refers to a personality trait characterized by being diligent, careful, thorough, organized, and responsible in one's work or personal affairs.