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What is an HDHP (High Deductible Health Plan)?

As the name implies, HDHP is a plan that has a high deductible. A deductible is the amount that you need to reach through your medical costs.

Members enrolled in an HDHP pay a minimum amount of premium. But members should ensure that they have adequate funds to pay for medical services anytime they need it. This is why HDHPs work with a Health Savings Account (HSA). HSAs are a savings account that can only be used for medical costs. Initially members pay for their medical costs out of pocket until they reach their deductible and their coverage sets in.

HDHP is ideal for people who want to save on their monthly premiums. This plan is for those who are generally healthy and do not need to see a physician regularly. Having an HDHP ensures that in the event of a major medical emergency, you have coverage but will not cost you too much in times when you don’t need it.

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