The Main Difference Between Health Savings Accounts (HSAs)and Health Reimbursement

question 24

Multiple Choice

The main difference between health savings accounts (HSAs) and health reimbursement accounts (HRAs) is that

• A) unused funds in HSAs cannot be rolled over to the next year by the employee.
• B) all funds in HRAs are contributed by employers.
• C) there are no deductibles under HSA plans, whereas HRA plans have high deductibles.
• D) HSA funds can only be applied to certain "qualified medical expenses," whereas there are fewer restrictions in HRAs.

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Definitions:

Industrial Societies

Societies characterized by the large-scale production of goods through mechanized and technological processes, often associated with urbanization and changes in social structures.

Booker T. Washington

An influential African American educator, author, and orator in the late 19th and early 20th centuries, who advocated for the economic and academic uplift of Black people.

W.E.B. Du Bois

An influential African-American sociologist, historian, and civil rights activist known for his leadership in the Niagara Movement and co-founding the NAACP.

Progressive

Relating to or advocating progress, change, or reform, especially in social or political matters.