Michael Torres
CPA, Former IRS Revenue Agent
HDHP (High Deductible Health Plan)
In This Article
Definition
Health plan with higher deductible ($1,600+ individual) that qualifies for Health Savings Account contributions.
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FAQs
Why choose an HDHP?
Lower premiums and HSA eligibility - good if healthy and can handle higher upfront costs.
Similar Terms
Gig Insurance
Insurance coverage for gig work activities, filling gaps in personal auto or liability policies.
Rideshare Insurance
Auto insurance endorsement or policy covering rideshare driving, filling gap between personal and platform insurance.
Liability Insurance
Insurance covering damages or injuries to others, important for service-based gig work.
Deductible
Amount you pay out-of-pocket before insurance coverage begins. Higher deductibles mean lower premiums but more cost when using insurance.
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Important Disclaimer: This content is for informational purposes only and should not be considered tax, legal, or financial advice. Consult a qualified professional (CPA, tax attorney, or financial advisor) for advice specific to your situation.