What Is the Amount of the Deductible HSA for Each

question 3

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.

• 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:

Hedge

A hedge is an investment or trade designed to reduce your risk of adverse price movements in an asset, providing protection against losses from price changes.

Bushels

A unit of volume that is used to measure agricultural commodities in the United States.

Corn

A cereal grain primarily used as livestock feed, biofuel, and as a staple food in many parts of the world, significant in agricultural economics.

Cross-hedging

An investment strategy used to manage risk by investing in assets indirectly related to the primary exposure.