HSA/FSA Quiz

An informative graphic depicting Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA), featuring medical items, savings symbols, and educational elements, in a vibrant and engaging style.

HSA/FSA Knowledge Quiz

Test your knowledge on Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) with our engaging quiz! Whether you’re a beginner or have some experience, this quiz will help reinforce your understanding of these important financial tools.

Key Topics Covered:

Account Definitions
Funding Sources
Merchant Codes
Eligibility for Expenses

10 Questions2 MinutesCreated by CuriousOwl731

What does FSA Stand for?

Flexible Savings Account

I don't know but ask Robyn

Fancy Silver Acrobats

Flexible Salary adjustments

What does HSA stand for?

Happy Sandy Antelopes

Health Savings Account

Healthy Serving Amounts

Health Sciences Authority

What is a merchant Code?

A 4 digit code that credit card issuers use to classify merchants and businesses by the type of goods or services provided

A specific 4 digit code for the medication

Just ask Robyn

The Tax ID for our facilities

What is IIAS Certification?

An inventory information approval system (IIAS) requires a merchant’s inventory and point-of-sale systems to have the ability to verify that the merchandise being purchased with a FSA/HRA card is an eligible medical expense, as defined by the IRS

An Inventory approval system that monitors our current inventory of medications

An information system system that audits all expenses made by the pharmacy

A certification that allows us to work from home

What plan covers Copays or deductibles, Prescription drugs, and Certain medical equipment?

HSA

FSA

Both

HRA

What is the rejection if a non FSA/HSA eligible balance is being charged to the card?

Insufficient Funds

Processing Error

Unrecognized

Empty Default Payment Method

HSA/FSA Quiz

HSA/FSA Knowledge Quiz

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