Learn about health benefitsHSAs: A best kept financial secret
How a high deductible plan works
In exchange for lower upfront costs (aka the monthly premium) employees pay medical services until they meet the (high) deductible and insurance kicks in. How much lower? The average premium for single coverage with an HDHP is $6,459 compared to $6,896 across all plan types.1
For 2018, HDHPs must have a minimum deductible of $1350/single and $2700/family coverage.2 That’s a hefty price tag for many workers, but when and HDHP is paired with a Health Savings Account (HSA) employees can contribute pre-tax dollars to help pay for healthcare expenses.