HDHP definition
Examples of HDHP in a sentence
HIGH DEDUCTIBLE HEALTH PLAN (HDHP) is a health plan that satisfies certain requirements with respect to deductibles and out-of-pocket expenses.
Employees will also have the option of enrolling in a Health Savings Account (HSA) when a qualifying High Deductible Health Plan (HDHP) is selected for their medical insurance.
Blue Cross and Blue Shield recommends you engage a qualified tax advisor to review, on your behalf, the federal, state, local and foreign tax consequences of establishing an HDHP, making an HSA available to employees, and, if applicable, making contributions to an HSA.
You will provide Blue Cross and Blue Shield, within a reasonable period prior to the start of your policy year under this Account-Based Offerings Administrative Services Agreement, a list of individuals covered under an HDHP who desire to become HSA Account Owners, including any information Blue Cross and Blue Shield or its designated vendor(s) requires to complete the HSA enrollment process.
For example, without limitation, adverse tax consequences may arise from the improper maintenance of an HDHP, the improper holding of an HSA, the improper contribution of amounts to an HSA, and reimbursement from an HSA for expenditures that are not qualified medical expenses.
Employees will also have the option of enrolling in a Health Savings Account (HSA) when a qualifying High Deductible Health Plan (HDHP) is selected for medical insurance.
The Account Owner agrees to indemnify and hold the Custodian harmless from any adverse consequences or losses incurred based on the representations, statements, actions or inactions of the insurance company or agent that sold the Account Owner the HDHP associated with this HSA.
If you are on a high deductible plan (HDHP), these services will also be provided to you at no cost.
The HDHP for this HSA shall meet and continue to meet all IRS requirements.
The parties agree to investigate the feasibility of adding by mutual agreement a High Deductible Health Plan (HDHP) with or without Health Savings Account (HSA) or Health Reimbursement Account (HRA) as an option to current health plans.