What are the High Deductible Health Insurance Plans?

Several health insurance plans are way above the regular wage-earners’ bracket. There are even health insurance companies who only offer an insurance plan that is for one-time payment. Some payment schemes are still out of range if you base it with the monthly salary rate received by employees.

This is the reason why there are health insurance companies who developed high deductible insurance plans. It is their way of encouraging low-income earners to avail of a health insurance policy without being crippled by the periodic deductions.

If you are hoping to avail one of these, then check out which of the two features is applicable to you:

High-deductible health insurance plans’ two main features.

If you are aiming for a minimum or lower health insurance policy but with a good coverage for any critical illness or injury, this is what you need.

1. HDHP For Self Only Coverage

The annual deduction in this coverage is higher than the traditional health plans. For the HDHP in FEHB Program, a minimum of $1,100 is to be deducted and indexed annually. The out-of-pocket annual limit is about $5,600 but will not exceed from that amount.

2. HDHP for Self and Family Coverage

A $2,200 will be deducted and indexed yearly. The yearly out-of-pocket limit is set to $11,200.

For the HDHP in the FEHB Program, their service coverage includes the following policyholders: Preferred Provider Organization (PPO), Health Maintenance Organization (MHO), and Point of Service (POS). These plans will also determine whether the policyholder can avail of the Health Savings Account (HAS) or Health Reimbursement Arrangement (HRA).