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High deductible health plan |
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High deductible health plan (HDHP). A high deductible health plan (HDHP) requires substantially higher than average out-of-pocket expenses before the insurance company will start paying for your medical expenses. However, the premiums for an HDHP are generally lower than the premiums for traditional fee-for-service, participating provider organization (PPO), or a health maintenance organization (HMO) plan. The HDHP may also pay a larger percentage of your expenses once you have satisfied the deductible. If you have an HDHP, you may be eligible for a health savings account (HSA), which allows you to make tax-free withdrawals to pay for medical care that's not covered by your plan. Money you put in an HSA or that an employer contributes to your account and that you don't spend for qualified expenses can be rolled over and used in later years. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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What high deductible health plans look like: findings from a national survey of employers, 2005. There are issues that still need to be sorted out, and we expect further guidance from the IRS, especially in regard to the impact of the grace period on employers that offer health savings accounts in conjunction with a high deductible health plan. 223 (c) (1) (A), an eligible individual is one who, in addition to other requirements, is covered under an HDHP on the first day of the month and is not "covered under any health plan which is not a high deductible health plan, and which provides coverage for any benefit which is covered under the high deductible health plan. |
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