Health Care Benefits
High Deductible Health Plans
A High Deductible Health Plan (HDHP) is a health insurance plan with lower premiums and higher deductibles than traditional health plans. These plans are often paired up with an HSA or HRA to provide flexible coverage for the employee.
The funds that an employee deposits into their HSA can be spent on the deductible of an accompanied HDHP.
Flexible Spending Accounts
Health care flexible spending accounts are employer-established benefit plans that reimburse employees for specified medical expenses as they are incurred. These accounts are allowed under section 125 of the Internal Revenue Code and are also referred to as "cafeteria plans" or "125 plans."
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