What is a high deductible health plan (HDHP)?

A high deductible health plan (HDHP) is a type of health insurance coverage in which a person must pay a higher deductible, or amount of money, before their health insurance begins to pay for most medical expenses. In Virginia, HDHPs are available for both individuals and families. A HDHP allows consumers to pay lower premiums, but they must meet a higher deductible before their insurance will cover medical expenses. As part of the deductible, they may also need to pay for some of their medical expenses out of pocket. The deductible amount depends on the plan, but it can range anywhere from $1,400 to $6,900 for an individual or $2,800 to $13,800 for a family. Once the deductible is met, the insurance will then cover the majority of the medical expenses. However, HDHPs typically don’t cover preventive care, such as routine physicals, before the deductible is met. When enrolled in a HDHP, it is important to plan for potential medical expenses and factor in the cost of the deductible. HDHPs are a great option for those who are looking for a low-cost health plan that covers the most important needs while still offering protection in case of an emergency. It is important to review all of the plan details before signing up to make sure it is the right fit for you and your family.

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What is a high deductible health plan (HDHP)?

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