Author Question: Which piece of federal legislation provides tax exclusions for medical savings accounts? a. ERISA ... (Read 59 times)

appyboo · **on:** Jul 8, 2018

Which piece of federal legislation provides tax exclusions for medical savings accounts?

a. ERISA c. HIPAA
b. COBRA d. AHRQ

Question 2

The United States spends how much of the gross domestic product (GDP) on health care?

a. 16 c. 20
b. 12 d. 10

Dinolord · **Reply #1 on:** Jul 8, 2018

Answer to Question 1

C
The Health Insurance Portability and Accountability Act (HIPAA) of 1996 imposed exclusions of restriction for those with preexisting conditions, provided protection of insurance coverage as employees change employers, and provides tax exclusions to medical savings accounts. The Employee Retirement Income Security Act (ERISA) allows states to regulate health insurers. The Consolidated Omnibus Reconciliation Act (COBRA) ensured employees who were laid off could maintain their health insurance for 18 months. AHRQ is not a piece of legislation but stands for The Agency for Healthcare Research and Quality.

Answer to Question 2

A
Health care costs in the United States are increasing 2.5 percent faster than the U.S. GDP. U.S. national health care expenditures were 1.9 trillion in 2004 . A staggering 16 of the GDP was spent on health care. Health care spending continues to increase faster than the overall U.S. economy.