High Deductible Health Plan

Definition

• A health insurance plan that features low premiums and high deductibles. A high-deductible health plan, or HDHP for short, is used to cover catastrophic illnesses that require prolonged hospitalization and/or recovery including such illnesses as coma, cancer, heart attack or stroke.

Acronyms
HDHP

Related Terms and Acronyms

• Deductible — Definition,
  • A payment that a policyholder must make before an insurer is required to provide benefits.
• First Dollar Coverage — Definition,
  • Insurance coverage that does not require the insured to pay a deductible.
• Health Insurance (HI) — Acronym,
  • Insurance that covers the costs of medical expenses for insured persons.
• Point of Service Plan — Definition,
  • A health insurance plan that combines the features of both health maintenance organizations and preferred provider organizations.
• Premium — Definition,
  • A payment made to an insurance company for insurance coverage.
• Stop Loss Insurance — Definition,
  • A low premium, high deductible insurance policy with an upper limit on coverage.