FSA/HSA/HRA Benefit Plan Setup This certification test contains questions of different formats. The format of the questions include multiple choice; true/false and fill in the blank etc. . . Please remember to chose the best response to each question. You are able to use your notes and participation guide along with the ISolved system while taking the test. Read carefully. In order to obtain your certification, you must score a passing score of 75 percent. Good Luck!
Combined with a Medical FSA to allow additional funds over the normal maximum
Only if an HSA is chosen. A limited FSA can be used only for Dental &/or Vision reimbursements
Only for employees that don’t elect the HSA
None of the above
Is only tracked only through payroll.
Is set up like an LTD
Is set up like an HSA
Needs to be elected every year
The catch-up must be paid in one lump at the start of the year
The employee must give the employer cash or check each pay period
Deductions are setup in addition to & run concurrently with the standard HSA deductions or the deductions begin for the catch-up after the EE reaches the regular HSA limit
The employer pays this for the employee
HRA’s are employee funded
HRA’s are offered as a stand-alone plan
HRA’s are not COBRA eligible
HRA COBRA is to be offered 2 ways: Medical + HRA premium & Medical premium only
With multiple years on the rates tab
With HSA Single and HSA Family coverage codes
With dependencies on a PPO plan
On the same Benefit Type
A medical plan
A pre-tax benefit
A private bank account
Allowed to be changed except once a year at OE
FSA Med & Dependent Care
HDHP, Limited FSA & HSA
FSA & HRA
FSA Dependent Care only
The FSA Medical and FSA Limited plans can be set up with same system deduction code.
The FSA Medical and FSA Limited must be set up with their own system deduction codes.
FSA Dependent Care, FSA Medical and FSA Limited all have the same annual limit.
A & C.