Certified Financial Consultant (CFC) Practice Exam

The term that best describes the ownership structure of Health Savings Accounts (HSAs) is "portable." This means that the account remains with the individual and is not tied to their employer. If an employee changes jobs or leaves the workforce, they can take their HSA with them, allowing for continued use of the funds for qualified medical expenses regardless of employment status.

This flexibility is a significant advantage of HSAs, as it empowers individuals to manage their healthcare savings independently and promotes a sense of ownership over their health-related financial planning. The other options don't accurately capture this notion of individual ownership. For example, while “transferable” may imply the ability to move the funds, it does not specifically state that the individual retains ownership. Similarly, “vested” usually relates to retirement plans and the right to benefits after a certain period and does not apply to HSA ownership. "Accessible" indicates ease of access to funds but does not convey ownership or portability.