A tough question to answer because it is so subjective, what's high to one person may quite acceptable to another. As 30 year insurance industry professional I would say that by the standards of 2014, you are entering "high deductible" territory when your plan's annual deductible exceeds $2000 for an individual.
When many consumers hear the term high deductible it is often being used as another way of saying this is a health insurance plan designed to work with a Health Savings Account (HSA). The model for this product being that the lower premiums for a high deductible health insurance plan with no copayment features will free up money to fund an HSA and hopefully accumulate a health care nest egg for a person's retirement years. In 2014 the minimum deductible for an HSA based plan is $1250 and the maximum deductible is $6350.
With the advent of the Affordable Care Act's (ObamaCare) health insurance marketplaces in 2014 the consumer is now presented with a whole new array of health insurance plan designs that will certainly meet anyone's definition of a high deductible plan but that may not be designed to be compatible with an HSA. Extra care and caution needs to be exercised by the consumer in the new world of health insurance and I would recommend seeking out the services of an experienced health insurance brokers in your marketplace to help you find the plan best suited to your needs and budget.
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As an experienced health insurance broker (33 years of experience), I'll answer your question quickly and accurately.
In 2015, the maximum deductible is $6,450, which is increasing from 2014. Of course, there are lower deductibles available and various coinsurance options.
An HDHP (High Deductible Health Plan) works with an HSA so that you can maximize tax deductions, lower premiums and take control of your healthcare.
LIVE answer provided by: Ed Harris - Premier health insurance broker and owner of several national top-rated websites.
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When many consumers hear the term high deductible it is often being used as another way of saying this is a health insurance plan designed to work with a Health Savings Account (HSA). The model for this product being that the lower premiums for a high deductible health insurance plan with no copayment features will free up money to fund an HSA and hopefully accumulate a health care nest egg for a person's retirement years. In 2014 the minimum deductible for an HSA based plan is $1250 and the maximum deductible is $6350.
With the advent of the Affordable Care Act's (ObamaCare) health insurance marketplaces in 2014 the consumer is now presented with a whole new array of health insurance plan designs that will certainly meet anyone's definition of a high deductible plan but that may not be designed to be compatible with an HSA. Extra care and caution needs to be exercised by the consumer in the new world of health insurance and I would recommend seeking out the services of an experienced health insurance brokers in your marketplace to help you find the plan best suited to your needs and budget.
In 2015, the maximum deductible is $6,450, which is increasing from 2014. Of course, there are lower deductibles available and various coinsurance options.
An HDHP (High Deductible Health Plan) works with an HSA so that you can maximize tax deductions, lower premiums and take control of your healthcare.
LIVE answer provided by: Ed Harris - Premier health insurance broker and owner of several national top-rated websites.