High Deductible Health Plan
This plan features budget-friendly premiums and an integrated deductible for both medical and pharmacy costs. When a High Deductible Health Plan is paired with a Health Savings Account (HSA), you can set aside tax-free money for current-year healthcare expenses and build savings for the future.An HDHP can be a Preferred Provider Organization (PPO) plan, Health Maintenance Organization (HMO) or Point of Service (POS) plan. According to the Internal Revenue Service (IRS), an HSA-compatible plan must have:
- An annual deductible at or above the IRS minimum
- An annual out-of-pocket maximum at or below the IRS maximum
- The deductible and out-of-pocket maximum amounts can change every year, and they'll vary depending on whether you have single or family coverage.