Sometimes referred to as a “catastrophic” health insurance plan, an HDHP is an inexpensive health insurance plan that generally doesn’t pay for the first several thousand dollars of health care expenses (i.e., your deductible) but will generally cover you after that. Of course, your HSA is available to help you pay for the expenses your plan does not cover.
For 2021, the lower limit on the annual deductible for an HDHP is $1,400 for self-only coverage and $2,800 for family coverage, both unchanged from 2020. The upper limit for out-of-pocket expenses is $7,000 for self-only coverage and $14,000 for family coverage, both increased from 2020.
| HDHP minimum deductibles | Self-only: $1,400 Family: $2,800 |
Self-only: $1,400 Family: $2,800 |
No change No change |
| HDHP maximum out-of-pocket amounts (deductibles, co-payments and other amounts, but not premiums) | Self-only: $7,000 Family: $14,000 |
Self-only: $6,900 Family: $13,800 |
Self-only: +$100 Family: +$200 |
You must have an HDHP if you want to open an HSA account.
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