facebook pixel Explaining a High Deductible Health Plan [Infographic]
Site Search
< Blog Home < Healthcare and Insurance Basics

Explaining a High Deductible Health Plan HDHP

You’ve probably heard of a High Deductible Health Plan (HDHP)—1/3 of our SelectHealth membership has chosen this type of plan. We’ll explain what this means and what you should expect from a HDHP.

Infographic illustrating what a high deductible health plan is

You’ve probably heard of a High Deductible Health Plan (HDHP)—1/3 of our SelectHealth membership has chosen this type of plan. We’ll explain what this means and what you should expect from a HDHP.

Features of a HDHP:

  • Lower monthly premium
  • Higher deductible (typically at least $1,350 a year for individuals and $2,700 for families)
  • Certain HDHPs be combined with a Health Savings Account (HSA) to help pay for medical expenses
    • An HSA allows you to save money to pay for things like a doctor visit (copay) or prescriptions  

     

Step 1: Pay your monthly premium

The amount you pay each month for insurance coverage.

Step 2: Meet your deductible

For certain medical services and prescriptions, you pay this every year before your plan will pay for eligible charges.

Step 3: Pay a copayment

An upfront fee you pay to a doctor for medical services.

Step 4: Pay coinsurance

A percentage of charges that you pay a provider or facility after the deductible has been met (most commonly, 80/20 coverage).

Step 5: Out-of-Pocket Maximum

The maximum amount you will pay out of pocket on an annual basis (consists of your deductible, coinsurance, and copayments). If you meet the out-of-pocket maximum, eligible charges for most services are covered 100% for the rest of the year.

 

Reference: healthcare.gov

You May Also Like...

Healthy Living

Here’s Why Taking 10,000 Steps A Day Is Good for You

You may have heard the hype about walking 10,000 steps a day, but do you know the why behind it?

Nutrition and Diet

Dairy-free Hot Chocolate

Warm up with a mug of dairy-free hot chocolate—made with just a few simple ingredients.

In the Community

Is Your Organization Keeping Utah Healthy? Apply for Our Award

Each year, we recognize 20 organizations that are making a healthy difference in Utah to help support their missions.

Business

What Playing Football Taught Me about Business

Here’s how my passion for playing football has helped me off the field.

Related Articles

Related Articles

Healthcare and Insurance Basics

Stay Healthy with Preventive Care

A little effort today can have big results tomorrow. That’s why we encourage you to be proactive and get preventive exams—including wellness visits and immunizations.

Healthcare and Insurance Basics

Infographic: Health Insurance Terms You Should Know

These health insurance terms will help you feel more comfortable and confident the next time you visit a doctor or get a bill.

Healthcare and Insurance Basics

3 Tips for Choosing a Primary Care Doctor

When it’s time to find a primary care doctor, how do you know which type of doctor you should be searching for? We’ll break it down and give you our top three tips on finding a doctor who can help keep you healthy and treat you when you’re sick.

Healthcare and Insurance Basics

Get Started with Our New Online Payment System

We improved our online payment system. Here’s how our Individual and Medicare members can pay their premium quickly and easily.

Post Author

Sandy Patton

Sandy is a Marketing Communications Specialist and has been with SelectHealth for 15 years. Her prior roles include health education and wellness coaching.