Which of the following statements about eligibility requirements for qualified Health Savings Accounts (HSAs)is (are)true?
I.Only individuals who are eligible for Medicare benefits can establish a qualified HSA.
II.You must be covered by a high deductible health plan and not be covered by any other comprehensive health plan to establish a qualified HSA.

Question

Quizplus · Accepted Answer

Only statement II is true. To establish a qualified HSA, an individual must be covered by a high deductible health plan (HDHP) and cannot be covered by any other comprehensive health plan. Statement I is false, as eligibility for Medicare benefits does not make an individual eligible for establishing a qualified HSA.

Which of the Following Statements About Eligibility Requirements for Qualified