I don't understand HDHP

patterson8585 — Sat, 01 Jun 2019 04:53:27 GMT

An HDHP is a High Deductible Health Plan and is usually p...

BMcCalpin — Sat, 01 Jun 2019 04:53:28 GMT

An HDHP is a High Deductible Health Plan and is usually provided by an established insurance company

"An HDHP has

A higher annual deductible than typical health plans, and
A maximum limit on the sum of the annual deductible and out-of-pocket medical expenses that you must pay for covered expenses. Out-of-pocket expenses include copayments and other amounts, but do not include premiums."

An HSA (Health Savings Account) goes hand-in-hand with an HDHP. The HDHP provide health insurance coverage, while the HSA enables you to pay the high deductible with tax-free dollars.

Normally, when you join a company with this type of coverage, the company signs you up for the HDHP and helps you to establish the HSA with a bank or financial institution..

To be or stay eligible for an HSA, you have to be covered by an HDHP - this is why TurboTax asks the question about HDHPs. If you are unsure if you are in an HDHP, consult your HR or benefits department - they will know.

topic I don't understand HDHP in Deductions & credits

I don't understand HDHP

An HDHP is a High Deductible Health Plan and is usually p...