High Deductible Health Plans, or HDHPs, are intimidating when you first look at the specs.  After investigating the options for insurance at my work, as we discovered we were spending $200 a month for just me at my hubby’s job, I decided that the HDHP was my best choice, and I haven’t looked back.  Granted, when choosing your insurance plan, you need to look at all the figures: paycheck premium, deductible, out of pocket expense, whether or not preventive care is covered pre-deductible, and the prescription coverage.  I have looked at plans for my friends and steered them away from their HDHP, it all depends on the specs.

At my job, I pay $200 a month in premiums for the insurance.  I have a $6000 deductible with a $10000 out of pocket max and 10% coinsurance.  With an HDHP, your deductible counts towards your out of pocket.  I also put $187.50 a paycheck into a Health Savings Account, or HSA.  So, every month, I pay $575 towards health care.  If I were to go with my work’s PPO plan, I would pay about $575 and then still have to cover a deductible and out of pocket expense.  With an HSA, the More >