Insurance Glossary

High Deductible Health Plan

Health

Definition

A health insurance plan with lower premiums and higher deductibles than traditional plans, often paired with a Health Savings Account (HSA) for tax-advantaged savings.

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Related Terms

Deductible

The amount you must pay out-of-pocket before your insurance coverage begins to pay for covered losses.

Health Savings Account

A tax-advantaged savings account available to individuals enrolled in high-deductible health plans, allowing pre-tax contributions for qualified medical expenses.

Premium

The amount paid by the policyholder to the insurance company for coverage, typically on a monthly, quarterly, or annual basis.

Accident Insurance

Insurance coverage for unforeseen bodily injury resulting from an accident.

Copayment

A fixed amount you pay for a covered health care service, usually when you receive the service.

Coinsurance

A cost-sharing arrangement where the insured pays a specified percentage of covered expenses after the deductible is met.

Out-of-Pocket Maximum

The most you have to pay for covered services in a plan year. After you reach this amount, the insurance pays 100% of covered services.

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