As we’ve mentioned many times, HSA-qualified plans are increasingly popular and have many advantages you should consider. One of these advantages is that most HSA plans include an “aggregate deductible.” That’s a fancy way of saying “one deductible covers the whole family.”
For example, let’s imagine that you have a $5,000 deductible for your family of four. That single deductible covers all four of you — covered expenses for each member of your family count towards your $5,000 deductible for the year. So if you have an unexpected appendectomy (which typically costs around $25k or so, believe it or not), you will have satisfied not only your personal deductible, but that for the entire family.
By contrast, most traditional plans have a per-person deductible with a family maximum of 2-3 deductibles. In that scenario, when you get your appendix out you certainly satisfied your deductible, but then if your child breaks an arm you’ll have to pay the deductible again for him (not to mention “coinsurance,” which is also present on most traditional plans and absent in most HSA plans… but that’s another post for another day).
The aggregate deductible thus makes your family’s health insurance a much simpler matter, enables you to better budget possible health-related expenses, and could potentially save you a lot of money if your family has multiple health issues in the same year.
Contact AC Forrest to learn more about HSA-qualified health insurance plans or to get a free, no-obligation quote.