Section I: Introduction to BASE®

Quiz 2: What is an HRA?

1.What does HRA stand for?

1. Answer: c. Health Reimbursement Arrangement.

It is a plan where eligible employees are able to receive tax-free reimbursements for qualified medical expenses.

2.The Section 105 BASE® HRA is a tax savings plan based on Internal Revenue Code:

2. Answer: a. 105.

The BASE® HRA is a tax savings plan based on Internal Revenue Code Section 105.

3.Qualified business owners are able to deduct up to ________ of their family’s health expenses with an HRA.

3. Answer: a. 100%.

Qualified business owners are able to deduct up-to 100% of all qualified medical expenses including health insurance premiums*, vision care and eyeglasses, prescription medications, and much more.

4.Clients enrolled in the BASE® HRA can expect the following services provided to them by BASE® during their plan year.

4. Answer: d. All of the above.

Enrollment in the BASE® HRA gives your client access to the best service and support in the industry.

5.Section 105 of the IRS tax code was developed in 1954.

5. Answer: a. True.

Written in 1954, its purpose is to help small business owners provide benefits to their employees

6.BASE® provides you with a downloadable tax ________ to assist you in showcasing the savings the BASE® HRA brings to your clients.

6. Answer: c. Calculator.

BASE® provides all field service representatives with many ways to help bring the BASE® HRA to their clients.

Congratulations!

You have successfully completed the BASE® Certification program.

You will be receiving a certificate of completion that will be mailed to your Agency Manager’s office.

For further questions, please contact BASE® at 1-877-342-5105 or visit us on the web at www.BASEonline.com.

Thank you for taking this quiz.

Continue to Section I: Chapter 3!