About the plans and accounts What is a High Deductible Health Plan (HDHP)?
A High Deductible Health Plan (HDHP) is a health insurance plan offering lower premiums in exchange for a higher deductible. The plan generally covers health care expenses after the deductible is met. You can also opt for varying coinsurance rates which can also affect your premium. Preventative care is usually covered 100% under an HDHP, and there is a cap on the out-of-pocket expenses you are responsible for during the year. HDHPs are frequently paired with HSAs to help you pay for expenses your plan does not cover. You must have an eligible HDHP to open an HSA.
Related Questions
- Can an individual who is not covered by a high deductible health plan HDHP for the whole year contribute the maximum annual limit established by the IRS?
- Do I have to be enrolled in a High Deductible Health Plan (HDHP) to contribute into an HSA (Health Savings Account)?
- About the plans and accounts What is a High Deductible Health Plan (HDHP)?
