What is considered a high deductible plan eligible for HSA 2018?

When it comes to choosing a health insurance plan that is eligible for a Health Savings Account (HSA) in 2018, one of the key factors to consider is the deductible amount. An HSA is a tax-advantaged savings account that allows individuals to save and pay for qualified medical expenses with pre-tax dollars.

A high deductible health plan (HDHP) is a type of health insurance plan that typically has lower monthly premiums and higher deductibles compared to traditional health plans. To be eligible for an HSA, the HDHP must meet certain criteria set by the IRS:

• For the year 2018, an HDHP for individuals must have a minimum deductible of $1,350.
• For family coverage under an HDHP, the minimum deductible must be $2,700 for 2018.
• Additionally, the out-of-pocket maximum for an HDHP in 2018 is $6,650 for individuals and $13,300 for families.

These deductible and out-of-pocket maximum amounts may be adjusted annually by the IRS, so it's essential to stay updated on the latest guidelines when choosing a health plan for your HSA.

Understanding health insurance plans that qualify for a Health Savings Account (HSA) can set you up for financial success when it comes to managing healthcare costs. In 2018, a high deductible health plan (HDHP) is defined by certain requirements set forth by the IRS. This makes it crucial to know if your plan fits these criteria.