A characteristic of a health savings account that distinguishes it from other types of health care coverage is that it
A) is not tax-deferred.
B) allows people to save money for medical expenses in a tax-deferred account.
C) covers only emergency procedures.
D) provides unlimited access to routine medical services (such as office visits) and minor medical tests and procedures (such as blood tests and X-rays) at no cost.

Question

Quizplus · Accepted Answer

Health savings accounts (HSAs) are tax-deferred accounts that allow people to save money for medical expenses. Part of the money currently spent on health insurance is deposited into an HSA and used to buy a catastrophic insurance policy that covers major medical expenses.

A Characteristic of a Health Savings Account That Distinguishes It