YOUR HSA CONTRIBUTIONS AND MEDICAL EXPENSES

FOR THE YEAR 2019, YOU AND YOUR EMPLOYER CONTRIBUTED THE AMOUNTS BELOW TO YOUR HSA, AND YOUR VARIOUS 2019 MEDICAL EXPENSES BELOW (ALL IN-NETWORK) WERE ALL COUNTED TOWARD YOUR DEDUCTIBLE:

YOUR HSA BALANCE ON 01/01/2019: $0

YOUR EMPLOYEE CONTRIBUTIONS: $2000

YOUR EMPLOYER CONTRIBUTIONS: $0 (WILL START ONLY IN 2020)

HSA INTEREST: $0

YOUR HEALTHCARE EXPENSES: $4500 (BROKEN DOWN BY EXPENSE ITEM BELOW):

YOUR 2 VISITS/CONSULTATION COPAYS TO MEDICAL SPECIALIST @$50 EACH = $100

YOUR LAB 1 = $400

YOUR LAB 2 = $500

YOUR SURGERY = $3000

YOUR PRESCRIPTION DRUG COST = $500

YOUR HDHP TERMS AND PROVISIONS

THE TERMS AND PROVISIONS OF YOUR HDHP FOR 2019 ARE AS FOLLOWS:

YOUR ANNUAL 2019 DEDUCTIBLE = $3000

YOUR COINSURANCE AFTER YOU MEET THE DEDUCTIBLE = 20%

HDHP FINANCIAL OBLIGATION AFTER YOU MEET THE DEDUCTIBLE = 80%

YOUR 2019 MAXIMUM OUT-OF-POCKET COST = $5000

IT IS DECEMBER 31, 2019, AND THE YEAR 2019 IS PRACTICALLY OVER. IT IS TIME FOR YOU TO DO YOUR ACCOUNTING OF YOUR 2019 PLAN EXPENSES. BASED ON THE ABOVE INFORMATION, CALCULATE THE FOLLOWING:

1. HOW MUCH YOU PAID OUT OF YOUR HSA BALANCE TO COVER YOUR 2019 EXPENSES??

2. HOW MUCH YOU PAID OUT-OF-POCKET IN 2019 TO MEET/SATISFY THE PLAN DEDUCTIBLE??

3. HOW MUCH YOU PAID FOR COINSURANCE (AFTER MEETING/SATISFYING THE PLAN DEDUCTIBLE)??

4. HOW MUCH WERE YOUR TOTAL HEALTHCARE (SUBSCRIBER) PAYMENTS FOR 2019 (I.E., EVERYTHING INCLUDED: PROCEDURES, TREATMENTS, COPAYS, DEDUCTIBLE, COINSURANCE, ETC.)??

5. HOW MUCH YOUR CDHP PAID IN TOTAL FOR YOUR HEALTHCARE EXPENDITURES IN 2019??