How to check your plan documents for HDHP status

The fastest way to know whether you have a high-deductible health plan (HDHP) is to look at your plan's Summary of Benefits and Coverage (SBC) or your insurance card. Your deductible amount will be printed on both. If your individual deductible is $1,550 or higher, or your family deductible is $3,100 or higher in 2024, you have an HDHP. These dollar amounts change each year — the IRS sets new minimums every January.

Your employer or insurance company sends you the SBC when you enroll or renew coverage. If you cannot find it, call the customer service number on your insurance card and ask for your plan's Summary of Benefits and Coverage. You can also log into your insurance company's website and download it from your account. The document will clearly state your deductible, and most will label the plan type as well.

Do not rely on the plan name alone. Insurance companies use names like "High Deductible Plan" or "Consumer-Driven Health Plan," but these names are not standardized. The only reliable way to confirm HDHP status is the deductible amount itself.

Key Takeaways

  • An HDHP has a deductible of at least $1,550 for individual coverage or $3,100 for family coverage in 2024, with these amounts rising each year.
  • Your Summary of Benefits and Coverage document or insurance card will show your exact deductible amount.
  • Plan names are not reliable — only the deductible dollar amount determines whether you have an HDHP.
  • If you have an HDHP, you become may be able to access to open and contribute to a Health Savings Account (HSA) in the same year.
  • You cannot have an HSA if you are covered by any non-HDHP health plan at the same time, including Medicare or Medicaid.

Where to find your deductible information

Your insurance card usually shows your deductible in a box labeled "Deductible" or "Annual Deductible." The number listed is what you pay out of pocket before your insurance begins to share costs. If the card shows $0, you do not have an HDHP — that is a traditional plan with no deductible or a very low one.

If your card does not list the deductible clearly, or if you have multiple plans, check your online account with your insurance company. Log in, find your plan details or coverage information, and look for the deductible. You can also call the number on your card and ask a representative to confirm your deductible amount and whether your plan qualifies as an HDHP.

Understanding the IRS deductible thresholds

The IRS sets minimum deductible amounts each year to define what counts as an HDHP. For 2024, the threshold is $1,550 for self-only coverage and $3,100 for family coverage. For 2025, these amounts increase to $1,650 and $3,300. These numbers change because they are adjusted for inflation.

Your plan's deductible must meet or exceed the current year's threshold to may have access to as an HDHP. If your deductible is $1,549 in 2024, you do not have an HDHP, even though you are very close. The threshold is a hard line, not a guideline.

HDHP plans paired with HSAs

If you have confirmed you have an HDHP, you become may be able to access to open a Health Savings Account (HSA) in the same calendar year. An HSA is a separate savings account that lets you set aside pre-tax money to pay for medical expenses. You can only contribute to an HSA if you are covered by an HDHP and no other health insurance.

You do not have to open an HSA just because you have an HDHP — it is optional. But if you do not have an HSA and you have an HDHP, you are paying medical expenses with after-tax dollars, which means you are missing a tax advantage. Many people with HDHPs open an HSA specifically to take advantage of this benefit.

Plans that disqualify you from HSA may be able to access

Even if you have an HDHP, you cannot contribute to an HSA if you are also covered by certain other insurance. Medicare, Medicaid, TRICARE, the Veterans Administration, or any traditional health plan (one with a low or zero deductible) will disqualify you. You also cannot have an HSA if someone claims you as a dependent on their tax return and they have an HSA.

If you are turning 65 and becoming may be able to access for Medicare, you must stop contributing to your HSA the month you enroll in Medicare, even if you do not use Medicare as your primary insurance. This is a federal rule with no exceptions. You can continue to withdraw money from an existing HSA for medical expenses after you enroll in Medicare.

What happens if your plan changes mid-year

If your employer changes your health plan during the year and your new plan is no longer an HDHP, you can no longer contribute to your HSA for the rest of that year. You can still withdraw money you have already saved. If you switch to an HDHP mid-year, you become may be able to access to open an HSA or resume contributions at that point.

Some employers offer open enrollment periods where you can change plans. If you are considering switching to or from an HDHP, check the deductible of your new plan before you enroll. The timing of when you change plans affects whether you can contribute to an HSA that year.

Frequently Asked Questions

Does a low out-of-pocket maximum mean I don't have an HDHP?

No. An HDHP is defined only by its deductible amount, not by the out-of-pocket maximum. You can have an HDHP with a high deductible and a reasonable out-of-pocket maximum. The out-of-pocket maximum is the most you will pay in a year; the deductible is what you pay before insurance kicks in.

Can I have an HDHP through my job and a different plan through my spouse?

No. If you are covered by any non-HDHP plan, even through a spouse's employer, you cannot contribute to an HSA. You can be on only one health plan at a time for HSA purposes. If both of you have HDHPs, you each have your own HSA, but you cannot have one HDHP and one traditional plan simultaneously.

What if my plan says "high deductible" but my deductible is $1,200?

That is not an HDHP for HSA purposes. The plan name does not matter — only the deductible amount. A $1,200 deductible falls below the 2024 threshold of $1,550, so you cannot open an HSA. Check whether your plan will increase your deductible at renewal.

Do I need to report my HDHP status to the IRS?

You do not report HDHP status itself. When you open an HSA, your bank or HSA provider reports your contributions to the IRS on Form 5498-SA. You report your HSA contributions on your tax return. If you have an HDHP but no HSA, there is nothing to report to the IRS.