High Deductible Health Care Plans (HDHPs)
A High Deductible Health Care Plan (HDHP) is an excellent way to reduce costs for your company or brokerage client while still providing the same high level of medical coverage and benefits that employees expect and deserve. By increasing deductibles, you automatically lower the monthly and annual costs of insurance, allowing you to supplement your coverage with a wide range of self-funded health plan options.
HDHPs are often effectively combined with a Health Savings Account (HSA) to help defray the cost of the deductible. The in-network deductibles and out-of-pocket maximums must qualify under annual federal guidelines.
Tax savings from HSAs, paired with reasonably priced HDHPs, make consumer-driven health plans a great choice for IAA's clients. Combinations such as these are designed to share costs and maximize benefits dollars in new ways, replacing traditional medical coverage options.