Enrolling in your employer’s company-sponsored, high deductible health plan (HDHP) means lower premiums and the ability to use pre-tax dollars to pay for out-of-pocket costs. But these perks come at a cost—enrolling in an HDHP also brings a higher deductible and added out-of-pocket costs.
If you’re thinking of enrolling in an HDHP, consider the following:
Once your deductible is met, medical costs are covered at 100%.
You can save for future medical expenses when paired with an HSA.
You control and manage your health care expenses.
An HDHP is not the ideal health coverage plan for everyone, but it can be a great way for some people to avoid paying for unnecessary coverage. Talk with your HR representative to learn more about your available health insurance plans.