HEALTH SAVINGS ACCOUNT (HSA) EXPERT EXAM
QUESTIONS & ANSWERS
Content Areas: HSA Eligibility, Contribution Limits, Tax Advantages, and HDHP Integration
1. What is the primary requirement for an individual to be eligible to contribute to a
Health Savings Account (HSA)?
A) The individual must be enrolled in Medicare.
B) The individual must have a High Deductible Health Plan (HDHP).
C) The individual must have a traditional health insurance plan.
D) The individual must have at least one chronic health condition.
Answer:
B) The individual must have a High Deductible Health Plan (HDHP).
Rationale:
Eligibility for an HSA requires the individual to be enrolled in a High Deductible Health Plan
(HDHP), which is defined by specific deductible and out-of-pocket requirements set by the
IRS.
2. What is the maximum contribution limit to an HSA for an individual under age 55 in
2026?
A) $2,000
B) $3,650
C) $5,000
D) $7,300
Answer:
B) $3,650
Rationale:
For individuals under 55, the annual contribution limit to an HSA in 2026 is $3,650.
Individuals aged 55 or older can contribute an additional $1,000 as a catch-up contribution.
3. Which of the following is NOT a tax advantage of contributing to an HSA?
A) Contributions to the HSA are tax-deductible.
B) Earnings in the HSA grow tax-free.
C) Withdrawals for qualified medical expenses are tax-free.
D) Contributions to the HSA are subject to income tax when withdrawn.
, Answer:
D) Contributions to the HSA are subject to income tax when withdrawn.
Rationale:
HSA contributions are tax-deductible, earnings grow tax-free, and withdrawals for qualified
medical expenses are also tax-free. However, withdrawals for non-medical purposes are
subject to taxes and penalties.
4. What is the catch-up contribution limit for individuals aged 55 or older in 2026?
A) $500
B) $1,000
C) $2,000
D) $2,500
Answer:
B) $1,000
Rationale:
Individuals aged 55 or older can contribute an additional $1,000 to their HSA, known as the
"catch-up" contribution, to help them save more for healthcare costs.
5. What happens to unused funds in an HSA at the end of the year?
A) They are forfeited to the insurance company.
B) They roll over from year to year, and there is no "use-it-or-lose-it" rule.
C) They are taxed at the end of the year.
D) They are refunded to the individual in the form of a check.
Answer:
B) They roll over from year to year, and there is no "use-it-or-lose-it" rule.
Rationale:
Unlike Flexible Spending Accounts (FSAs), HSA funds roll over from year to year, allowing
individuals to build up savings for future medical expenses without losing their funds.
6. What is the purpose of a High Deductible Health Plan (HDHP) in relation to an
HSA?
A) To allow individuals to save on premiums while being eligible for an HSA.
B) To offer low premiums but high out-of-pocket costs for medical expenses.
C) To eliminate the need for out-of-pocket expenses for medical services.
D) To cover all medical expenses, including those for chronic conditions.
QUESTIONS & ANSWERS
Content Areas: HSA Eligibility, Contribution Limits, Tax Advantages, and HDHP Integration
1. What is the primary requirement for an individual to be eligible to contribute to a
Health Savings Account (HSA)?
A) The individual must be enrolled in Medicare.
B) The individual must have a High Deductible Health Plan (HDHP).
C) The individual must have a traditional health insurance plan.
D) The individual must have at least one chronic health condition.
Answer:
B) The individual must have a High Deductible Health Plan (HDHP).
Rationale:
Eligibility for an HSA requires the individual to be enrolled in a High Deductible Health Plan
(HDHP), which is defined by specific deductible and out-of-pocket requirements set by the
IRS.
2. What is the maximum contribution limit to an HSA for an individual under age 55 in
2026?
A) $2,000
B) $3,650
C) $5,000
D) $7,300
Answer:
B) $3,650
Rationale:
For individuals under 55, the annual contribution limit to an HSA in 2026 is $3,650.
Individuals aged 55 or older can contribute an additional $1,000 as a catch-up contribution.
3. Which of the following is NOT a tax advantage of contributing to an HSA?
A) Contributions to the HSA are tax-deductible.
B) Earnings in the HSA grow tax-free.
C) Withdrawals for qualified medical expenses are tax-free.
D) Contributions to the HSA are subject to income tax when withdrawn.
, Answer:
D) Contributions to the HSA are subject to income tax when withdrawn.
Rationale:
HSA contributions are tax-deductible, earnings grow tax-free, and withdrawals for qualified
medical expenses are also tax-free. However, withdrawals for non-medical purposes are
subject to taxes and penalties.
4. What is the catch-up contribution limit for individuals aged 55 or older in 2026?
A) $500
B) $1,000
C) $2,000
D) $2,500
Answer:
B) $1,000
Rationale:
Individuals aged 55 or older can contribute an additional $1,000 to their HSA, known as the
"catch-up" contribution, to help them save more for healthcare costs.
5. What happens to unused funds in an HSA at the end of the year?
A) They are forfeited to the insurance company.
B) They roll over from year to year, and there is no "use-it-or-lose-it" rule.
C) They are taxed at the end of the year.
D) They are refunded to the individual in the form of a check.
Answer:
B) They roll over from year to year, and there is no "use-it-or-lose-it" rule.
Rationale:
Unlike Flexible Spending Accounts (FSAs), HSA funds roll over from year to year, allowing
individuals to build up savings for future medical expenses without losing their funds.
6. What is the purpose of a High Deductible Health Plan (HDHP) in relation to an
HSA?
A) To allow individuals to save on premiums while being eligible for an HSA.
B) To offer low premiums but high out-of-pocket costs for medical expenses.
C) To eliminate the need for out-of-pocket expenses for medical services.
D) To cover all medical expenses, including those for chronic conditions.
