An HSA-qualified high-deductible health plan in 2024 must have a minimum deductible of

Rationale

$1,600 single / $3,200 family.

In 2024, the IRS has established that an HSA-qualified high-deductible health plan must have a minimum deductible of $1,600 for individual coverage and $3,200 for family coverage. This requirement ensures that individuals have significant out-of-pocket expenses before insurance coverage begins, promoting consumer-driven healthcare approaches.

A ($1,000 single / $2,000 family) YOUR ANSWER

This choice reflects deductible amounts that were applicable in prior years but do not meet the 2024 criteria set by the IRS. The amounts are too low to qualify as a high-deductible health plan for the specified year, failing to align with the current regulations.

B ($1,600 single / $3,200 family) CORRECT

This is the correct answer as it accurately represents the minimum deductible amounts mandated for HSA-qualified high-deductible health plans in 2024. Meeting these figures is essential for individuals seeking to contribute to Health Savings Accounts while utilizing high-deductible health plans.

C ($2,500 single / $5,000 family) YOUR ANSWER

While these amounts exceed the minimum deductible requirements, they are not the minimums established for 2024. Therefore, although they would qualify as high-deductible plans, they do not represent the necessary minimums that must be met to qualify for an HSA.

D ($3,000 single / $6,000 family) YOUR ANSWER

This option also exceeds the minimum thresholds for 2024, making it a valid high-deductible health plan. However, like choice C, it is not the minimum required deductible amounts, thus disqualifying it from being the correct answer.

Conclusion

For 2024, the minimum deductible for HSA-qualified high-deductible health plans is set at $1,600 for individual coverage and $3,200 for family coverage. These figures are crucial for individuals looking to leverage Health Savings Accounts effectively. Options A, C, and D, while related to deductible requirements, do not meet the specified minimums and therefore cannot be considered correct.

An HSA-qualified high-deductible health plan in 2024 must have a minimum deductible of

$1,600 single / $3,200 family.

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