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:

Raw Content

Unprocessed or unrefined information or data that has not yet been analyzed or formatted for specific uses.

Quietly Reflect

The act of silently pondering or considering one's thoughts, actions, or experiences, often leading to insights or resolutions.

External Factors

Elements outside an organization or individual's control that can impact their performance or decision-making process.

Self-Serving Bias

A common tendency to attribute one's successes to personal qualities and failures to external factors.