What is a High Deductible Health Plan (HDHP)?

I previously mentioned that I had moved to a new high deductible health plan (HDHP) that my employer started offering during open enrollment. I have had a few questions since around that declaration from people who were curious to know more about HDHP’s and I thought it may be beneficial to dedicate a post towards the topic. What is an HDHP? An HDHP is a type of health insurance plan that offers lower monthly premiums than more traditional plans like PPO’s or HMO’s in exchange for a higher deductible – hence the name “high deductible health plan”. They are...

[Read the rest of the story at 20somethingfinance.com]