Health savings account (HSA plans)

Learn the rules and regulations behind the two parts of every HSA (the high deductible health plan and the HSA bank account).

High-deductible health plan

According to the IRS, high deductible health plans (or HDHPs):

  • Must have a minimum deductible of $1,400 for individuals and $2,800 for families.
  • Can use any plan design: HMO, POS, PPO or traditional indemnity plan
  • Require a member to meet the deductible before the health plan benefits apply – all covered medical and prescription costs count toward the deductible
  • Must cover preventive care services 100% before the deductible is met
  • Can be fully funded or self-funded
  • Must cover all qualified medical and prescription drug services in full for the rest of the year once the member meets the out-of-pocket maximum. Covered standard services such as physician services, hospital visits, preventive care and prescription drugs will count towards the out-of-pocket maximum