What is Considered a High Deductible for HSA Plan?

When it comes to Health Savings Accounts (HSAs), understanding what constitutes a high deductible is crucial for making informed decisions about your healthcare. A high deductible for an HSA plan is typically determined by the IRS each year and can vary based on whether you have an individual or family plan. In 2021, a high deductible health plan (HDHP) for an individual is one with a minimum deductible of $1,400 and for a family, it is $2,800.

Having a high deductible plan allows you to contribute to an HSA, which offers tax advantages and helps you save for medical expenses both now and in the future. Additionally, these plans often have lower monthly premiums, making them an attractive option for those looking to save on healthcare costs.

Determining what a high deductible means in the context of Health Savings Accounts (HSAs) is essential for anyone considering their healthcare options. According to the IRS, the minimum deductible for a high deductible health plan (HDHP) is set annually. For 2021, this means an individual must have a deductible of at least $1,400, while a family plan must have a minimum deductible of $2,800.