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 »  What is HDHP?  

A qualified HDHP is a health plan that meets the requirements below for annual deductibles and out-of-pocket expenses. In addition, prescription drugs must be included in the minimum deductible.

Coverage Annual Deductible Annual
Out-of-Pocket Expenses
Individual $1,100 minimum* Not more than $5,600*
Family $2,200 minimum* Not more than $11,200*

* These amounts are effective for the 2008 tax year. Amounts are indexed annually.

* Some qualified plans may have a first-dollar benefit or low-deductible benefit for preventive care only.

* In the case of family coverage, a plan is only an HDHP if under the terms of the plan no amounts are payable until the aggregate family deductible is met.


Not all HDHP are HSA qualified. If you have questions regarding a specific plan's qualification as an HDHP, ask your medical insurance carrier or medical insurance agent to verify the plan is a qualified HDHP. Penalties exist for individuals that open Health Savings Accounts without the appropriate insurance.

If your employer currently offers a High Deductible Health Plan, then you may verify the plan qualifications with your employer.

 
E-SB-200
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