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Guide To Group HSA Plan Deductibles

The standard group HSA plan consists of two parts: a tax-free health savings account for each employee (you can choose whether or not to contribute a matching percentage, similar to a 401K) and a high-deductible group health insurance plan. The former is intended to be used for everyday medical purchases, including regular doctor visits and prescription medications. Meanwhile, the latter serves as a safety net in the case of a catastrophic major medical condition.

According to the federal government, there are certain guidelines that must be followed when a company offers this type of group health insurance coverage. Namely, the annual out-of-pocket deductible must exceed a certain threshold in order to qualify as a health savings account plan.

In order to qualify as an eligible High Deductible Health Plan, the group health insurance plan you select for your firm must meet this criteria:

  • Individual deductibles must be over $1,100 and under $5,600.
  • Family deductibles must be over $2,200 and under $11,200.

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