Special savings accounts that individuals could pay into directly and then use to pay medical bills or purchase a catastrophic health insurance plan are known as
A) flexible benefit accounts.
B) health savings accounts.
C) health-care savings bonds.
D) HMOs.

Question

Quizplus · Accepted Answer

Special savings accounts that individuals could pay into directly and then use to pay medical bills or purchase a catastrophic health insurance plan are known as health savings accounts. Flexible benefit accounts are also savings accounts, but they are typically used for a wider range of expenses such as dependent care and transportation expenses. Health-care savings bonds do not exist, and HMOs are a type of health insurance plan rather than a savings account.

Special Savings Accounts That Individuals Could Pay into Directly and Then