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What is a high-deductible health plan (HDHP)?

High-deductible health plans, or HDHPs, are health insurance plans with lower premiums and higher deductibles than traditional health plans.

For 2020, an HDHP's deductible starts at $1,400 for an individual plan and $2,800 for a family plan. Out-of-pocket expenses such as in-network co-pays, deductibles, and coinsurance (but not premiums) cannot exceed $6,900 or $13,800 for individual and family plans, respectively.

HDHP enrollment is required to make contributions to an HSA (health savings account). However, not every health plan with a high deductible meets the IRS definition of an HDHP, as there are additional qualifications required. Check with your employer or the insurance carrier to confirm that your policy is an HDHP if you're not sure.

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