SIE Exam Question 1031: Answer and Explanation

Question: 1031

Which of the following is required for an individual to open a health savings account (HSA)?

• A. The individual must have a high-deductible health plan (HDHP).
• B. The individual must have a low-deductible health plan (LDHP).
• C. The individual must have a flexible spending account (FSA).
• D. None of the above are required to open a health savings account.

Correct Answer: A

Explanation:

To open a health savings account (HSA), an individual must have a high-deductible health plan (HDHP).