Tax Drill Health Savings Accounts
Indicate whether the following statements are "True" or "False" regarding Health Savings Accounts and the medical deduction.
a To qualify as a highdeductible plan, the annual deductible in
is not less than $ for selfonly coverage for family
coverage
b Earnings on HSAs are not subject to taxation unless distributed, in
which case taxability depends on the way the funds are used.
c The annual deduction for contributions to an HSA is limited to an
amount that depends on whether the taxpayer has selfonly
coverage or family coverage.
d Contributions made by the taxpayer to an HSA are deductible from
AGI to arrive at taxable income.
e For a highdeductible plan, the annual limit in on total outof
pocket costs excluding premiums under the plan can not exceed
$ for selfonly coverage $ for family coverage
