A high-deductible health plan (HDHP) is a type of health insurance available in the United States that has higher deductibles and lower premiums than traditional health plan.
HDHP requires you to pay a higher deductible before the plan begins to cover medical expenses. HDHP will typically cover a percentage of medical expenses, such as 80% or 90%.
For 2023, the minimum deductible for an HDHP is $1,500 for individuals & $3,000 for families. The maximum out-of-pocket expenses are $7,500 for individuals & $15,000 for families.
Healthcare services that an HDHP may cover includes, Preventive Care, Emergency Care , Hospitalization, Prescription Drugs, Maternity Care, Mental Health and Substance Abuse Treatment.
The cost of a high-deductible health plan (HDHP) can vary depending on factors such as your location, age, overall health status and coverage level.
Some HDHPs also offer the option of opening a health savings account (HSA), which is a tax-advantaged savings account that you can use to pay for out-of-pocket medical expenses.