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HSA, HRA, FSA, oh my!

Total questions: 18

Worksheet time: 12mins

Name
Class
Date
1.

Which two plans commonly have employer contributions?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

2.

Which has contribution limits of $4,150 for self only coverage per year in 2024?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

3.

Which has contribution limits of $3,200 per plan year in 2024 (regardless of tier)?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

4.

Which has contribution limits of $8,300 for family coverage per year in 2024?​

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

5.

Which can be paired with a Limited FSA (a.k.a. Limited Purpose FSA or Limited Use FSA)?​

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

6.

Which has Catch Up rules allowing you to contribute more once you reach age 55?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

7.

Which plan's qualified expenses are typically determined by the employer?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

8.

Which is owned by the employee?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

9.

Which can be used to help pay for qualified medical expenses?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

10.

Which, when you leave the company, will the unused money stay with the employer?​

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

11.

Which require(s) you to be enrolled in a high deductible health plan (HDHP)?

a)

HSA

b)

General FSA

c)

HRA

d)

None of the above

12.

Which must you report on your taxes?

a)

HSA

b)

General FSA

c)

HRA

d)

None of the above

13.

Which two plans are commonly contributed to by the employee?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

14.

Which has tax advantages for the employee?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

15.

Which has tax free interest if invested?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

16.

Which can you use to buy toys for your kid’s birthday?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

17.

Which account(s) can you use even if you haven't contributed any money to the account yet?

a)

HSA

b)

FSA

c)

HRA

d)

None of the above

18.

Which is/are a "Use it or Lose It" plan(s), but in some cases can have a certain amount of funds rolled over to the following year?

a)

HSA

b)

HRA

c)

FSA

d)

None of the above