What does a high deductible health plan typically offer?

A high deductible health plan typically offers lower premiums. This means that individuals who enroll in such plans usually pay less on a monthly basis compared to plans with lower deductibles. The trade-off, however, is that these plans require higher out-of-pocket expenses when accessing healthcare services. This structure is designed to encourage consumers to be more mindful of their healthcare spending, as they are responsible for a larger portion of their medical costs before their insurance coverage kicks in.

The appeal of lower premiums makes high deductible plans attractive for individuals who are generally healthy and do not anticipate needing frequent medical care. It allows them to save on monthly costs while still having the safety net of insurance for unexpected health issues.