High-deductible health plan
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High-deductible health plans (HDHPs) are health plans that have higher deductibles than typical health plans. For 2016, the Internal Revenue Service (IRS) defined HDHPs as plans with a deductible of at least $1,300 for an individual or $2,600 for a family.[1]
Overview
High-deductible health plans are health plans with higher-than-average deductibles. The amount a deductible must reach to qualify as an HDHP is set annually by the IRS. In 2016, the threshold for HDHPs was $1,300 for an individual or $2,600 for a family.[1]
HDHPs tend to have low monthly premiums compared to other plans, but insured members must pay more of their healthcare costs themselves before insurance begins covering their costs. According to Healthcare.gov, HDHPs may be combined with a health savings account or a health reimbursement arrangement to pay for certain medical expenses with untaxed dollars. As of 2016, coverage from an HDHP was a requirement to open a health savings account.[1][2]
See also
- Obamacare overview
- History of healthcare policy in the United States
- Individual health plan
- Group health plan
External links
Footnotes
