The typical plan design does not have copay's for doctor visits or prescription drugs. Policyholders that use par (network) providers pay the pre-negotiated rate for all covered services. The amounts paid for covered medical services accrue towards the deductible.
HDHP policies are a simple, easy to understand concept. Unlike copay plans, there are no "moving parts" to the HDHP. Once the deductible is satisfied, all covered charges for the balance of the year are paid by the carrier (subject to coinsurance provisions).
Most plans offer 100% coinsurance above the deductible but it is not unusual to see plans with 80%, 70% or 50% coinsurance.
The HDHP design is a requirement for those who want an HSA (health savings account) but not all HDHP's are HSA compliant.
Policyholders looking for good value and minimal risk exposure for catastrophic claims will choose the HDHP.
HDHP stands for High Deductible Health Plan. Generally, this term has been used in association with a type of health insurance policy purchased that was specifically designed to be used with a Health Savings Account (H.S.A). In this context the health insurance plan design has an upfront deductible that must be paid by the policyholder before any co-insurance cost sharing and/or copayments can be applied to the policy's coverage. The IRS determines the minimum deductible and out-of-pocket maximums for H.S.A eligible high deductible health plans each year. For this reason the deductible associated with HDHPs changes over time. In 2014 the minimum individual deductible for a HDHP is $1250, in 2015 it will increase to $1300.
Re-designs of health insurance plan benefits prompted by the Affordable Care Act have introduced new health insurance plans that have substantially higher deductibles that previously were most often associated with an H.S.A based plans. As such, the consumer must closely examine the detailed benefits summary of the health insurance plans they are considering. This is because there are plan designs now that certainly have a high deductible but they also have other benefit features like office visit or prescription copayments that disqualify them from being used with an H.S.A.
In short, you will be best served to seek out the services of a health insurance broker who is knowledgeable in these matters.
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The typical plan design does not have copay's for doctor visits or prescription drugs. Policyholders that use par (network) providers pay the pre-negotiated rate for all covered services. The amounts paid for covered medical services accrue towards the deductible.
HDHP policies are a simple, easy to understand concept. Unlike copay plans, there are no "moving parts" to the HDHP. Once the deductible is satisfied, all covered charges for the balance of the year are paid by the carrier (subject to coinsurance provisions).
Most plans offer 100% coinsurance above the deductible but it is not unusual to see plans with 80%, 70% or 50% coinsurance.
The HDHP design is a requirement for those who want an HSA (health savings account) but not all HDHP's are HSA compliant.
Policyholders looking for good value and minimal risk exposure for catastrophic claims will choose the HDHP.
Re-designs of health insurance plan benefits prompted by the Affordable Care Act have introduced new health insurance plans that have substantially higher deductibles that previously were most often associated with an H.S.A based plans. As such, the consumer must closely examine the detailed benefits summary of the health insurance plans they are considering. This is because there are plan designs now that certainly have a high deductible but they also have other benefit features like office visit or prescription copayments that disqualify them from being used with an H.S.A.
In short, you will be best served to seek out the services of a health insurance broker who is knowledgeable in these matters.