1. lower premiums. The deductible may be higher and you will have to pay more out-pocket expenses such as health expenditures come along, but your monthly premiums are lower. high deductibles allow your insurance coverage to be more affordable and a better fit for your budget because your premiums are a recurring expense.
2. You can become eligible for an HSA account. health savings accounts (HSA) is an account where you put money in it, so that the funds can be used when health expenditures occur. The funds in the HSA are not taxed for federal income and earning interest on the money you deposit and can be withdrawn tax-free, for health-related expenses. These expenses also roll over and accumulate each year.
3. If you are healthy, you save. When you are healthy your expenses are generally less than the deductible. This means you have fewer doctors visits, less prescriptions, hospital visits less to pay out-of-pocket, so that the franchise essentially irrelevant.
4. After 64 years, you withdraw HSA are tax-free. If you choose to make a high-deductible health plan and follow the path of health savings account; You can withdraw HSA balance, for some reason, after reaching the age of 64-years tax free.
5. High Deductible Health Plan is typically a PPO. A Preferred Provider Organization (PPO) usually adds flexibility to get coverage for health care providers off-grid. An HDHP can give you the opportunity to see the off-network providers.
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