A high-deductible health plan with lower monthly premiums is a good option for relatively healthy individuals who anticipate lower healthcare expenses.
What is a high-deductible health plan?
A high-deductible health plan (HDHP) is a type of health insurance plan that has lower premiums and higher deductibles than a traditional health plan. The deductible is basically the amount of money you must pay out of pocket for healthcare expenses before your insurance company begins to pay. After you reach the deductible, the insurance company typically pays a percentage of your healthcare costs. HDHPs often have lower premiums, but higher out-of-pocket costs.
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