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FBA Foundations 101 Quiz

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FBA Foundations 101 Quiz

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This quiz goes over Foundations 101

Created by

Teri Training
Teri Training
United States

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FBA Foundations 101 Quiz
 

FBA Foundations 101 QuizOnline version

This quiz goes over Foundations 101

by Teri Training
1

THIS TYPE OF FSA ALLOWS EMPLOYEES TO USE PRE-TAX DOLLARS FOR QUALIFIED DENTAL & VISION EXPENSES

2

IN ORDER TO QUALIFY FOR AN HSA, A PARTICIPANT MUST BE ENROLLED IN THIS TYPE OF HEALTH INSURANCE PLAN

3

THE MONTHLY RATE A PERSON PAYS FOR THEIR HEALTH INSURANCE IS KNOWN AS THIS TERM

4

THIS IRS SECTION OF CODE IS ALSO REFERRED TO AS “CAFETERIA PLANS”

5

PARTICIPANTS OVER THE AGE OF 55 CAN CONTRIBUTE AN ADDITIONAL _____ ANNUALLY TO THEIR HSA

6

THE ENTIRE FSA BALANCE IS AVAILABLE FOR USE ON THE ____ DAY OF THE PLAN YEAR

7

THIS IS THE TERM FOR THE AMOUNT A PARTICIPANT MUST PAY OUT OF POCKET BEFORE THE INSURANCE COMPANY PAYS ITS SHARE

8

THIS U.S. ACT OF CONGRESS DICTATES STRICT POLICY REGARDING A PERSON’S HEALTH INFORMATION

9

A PERSON IS INELIGIBLE FOR AN HSA IF THEY CAN BE CLAIMED AS A _____ ON ANOTHER PERSON’S TAX RETURN

10

THESE PLANS ALLOW EMPLOYEES TO SET ASIDE UP TO $300 PER MONTH ON A PRE-TAX BASIS PER IRS SECTION 132

11

THIS TERM REFERS TO A FIXED DOLLAR AMOUNT A PARTICIPANT PAYS FOR CERTAIN TYPES OF CARE

12

THIS RULE STATES THE MAXIMUM AMOUNT OF REIMBURSEMENT MUST BE AVAILABLE AT ALL TIMES DURING THE PLAN YEAR

13

UNLIKE OTHER ACCOUNT TYPES, HSA LETS YOU _____ MONEY

14

EMPLOYERS MAY CHOOSE TO ALLOW THIS, WHICH ALLOWS PARTICIPANTS AN ADDITIONAL TIME FRAME TO INCUR EXPENSES

15

FSA UNUSED CONTRIBUTIONS ARE NOT ROLLED OVER INTO THE NEXT YEAR

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