Tax Drill $-$ Health Savings Accounts

Indicate whether the following statements are "True" or "False" regarding Health Savings Accounts and the medical deduction.

a$.$ To qualify as a high$-$deductible plan, the annual deductible in $2023$

is not less than $$1,500$ for self$-$only coverage for family

coverage$).$

b$.$ Earnings on HSAs are not subject to taxation unless distributed, in

which case taxability depends on the way the funds are used.

c$.$ The annual deduction for contributions to an HSA is limited to an

amount that depends on whether the taxpayer has self$-$only

coverage or family coverage.

d$.$ Contributions made by the taxpayer to an HSA are deductible from

AGI to arrive at taxable income.

e$.$ For a high$-$deductible plan, the annual limit in $2023$ on total out$-$of$-$

pocket costs $($excluding premiums$)$ under the plan can not exceed

$$7,500$ for self$-$only coverage $($ $$15,000$ for family coverage$).$