(This post was originally published in May 2013 and was updated in Nov 2016, Oct 2017, May 2018, Aug 2018, Nov 2019, May 2020, June 2021, May, 2022, and September, 2023) When you have insurance coverage through a high-deductible health plan (HDHP), you may establish a Health Savings Account (HSA). An HSA is an account into which you deposit money to pay for medical-related costs. There are many benefits of
What is a High-Deductible Health Plan?
(This post was originally published in May, 2013 and was updated in Nov 2016, Oct 2017, Aug 2018, Nov 2019, May 2020, June 2021, May 2022, and September 2023) A high-deductible health plan (HDHP) is just what the name implies. It is a health insurance plan that has a higher deductible than traditional insurance plans. An HDHP also has lower premiums than traditional coverage. In plain English, when you’re covered
