Once you have met your deductible, you may still not be off the hook when it comes to covering medical costs. ![]() Conversely, a HDHP also comes with annual out-of-pocket maximum limits of $7,000 for an individual and $14,000 for a family. In 2021, HDHPs can include individual plans with a deductible of at least $1,400 and family plans with a deductible of at least $2,800. Some plans with high enough deductibles even qualify as a high deductible health plan, or HDHP. a higher deductible and lower monthly premiums. If you have a $5,000 annual deductible, for example, you'll need to pay the first $5,000 in eligible medical costs before your health insurance plan kicks in.ĭeductibles can vary widely, with some plans featuring higher premiums and a lower deductible, vs. A deductible is the amount of money you need to pay within a year before your health insurance plan begins picking up part of the tab. When you shop around for health insurance plans, one of the first things you'll notice is the deductible for different levels of coverage.
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