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Affordable HDHP Plans
If you are looking for a very low premium and do not need to see your doctor often, then a high deductible plan might be your best bet. High deductible plans offer consumers a way to save money on insurance premiums but still maintain a basic level of coverage.
High deductible plans are able to keep premiums low by having a deductible that’s usually above $1,000 for individuals or $2,000 for a family – sometimes even several thousand dollars for a family. Since a patient must pay that amount out-of-pocket before the insurance will pay for health care, these plans mostly provide some protection in case of a sudden accident or emergency that leads to skyrocketing medical costs. So, they’re often not a good option if you have a chronic condition or need regular doctor visits or medications.
High Deductible Health Plans Provide Some Preventive Care
Some high deductible plans offer slightly more than catastrophic coverage and will include a certain limited amount of wellness care that you can access before you meet the deductible. This can help patients pay for preventive services such as immunizations or doctor’s visits.
Another benefit in some plans is that they can get patients discounts with certain doctors and hospitals, within the plan’s network of providers. However, this may require you to save receipts and file a lot of paperwork in order to receive reimbursement or be eligible for savings.
Using an HSA with an Affordable HDHP
Another way to help pay for preventive care on a high deductible plan is with a health savings account (HSA), a type of bank account that lets you save for health expenses on a tax-preferred basis. You can deposit funds into a health account before they’re taxed, and then use that money to pay for your health expenses such as co-pays, out-of-pocket costs, and even some over-the-counter drugs and supplies.
If you plan to open an HSA, you will need to make sure you purchase a high deductible plan that meets certain requirements set out by the IRS:
2009
Minimum deductible: $1,150 (single), $2,300 (family)
Maximum out-of-pocket: $5,800 (single), $11,600 (family)2010
Minimum deductible: $1,200 (single), $2,400 (family)
Maximum out-of-pocket: $5,950 (single), $11,900 (family)
Learn how much you can save with an HDHP Plan today!
Affordable-Health-Insurance.com is an informational resource only and not an insurer or broker. The information on this site is provided for research purposes only, and is not necessarily affiliated with any specific carrier. We are not necessarily associated with any provider profiled on our site, and make no guarantees about the carrier affiliation of any broker that contacts you. Coverage options and policies may not be available in every state, and no guarantees of the same are made herein.
