All articles tagged with #hdhp
A Mayo Clinic-led study in JAMA Network Open found cancer patients on high-deductible health plans have significantly higher mortality than those on standard plans (46% higher all-cause, 34% higher cancer-specific). With ACA tax credits expired, premiums surged, pushing more people toward HDHPs and potentially delaying necessary care, which could worsen outcomes for cancer patients.
The IRS has announced that the annual contribution limits for health savings accounts (HSAs) will increase significantly in 2024, with the limit for self-only coverage rising to $4,150 and for family coverage to $8,300. The high-deductible health plan (HDHP) deductible will also increase to $1,600 for self-only coverage and $3,200 for family coverage. The maximum amount that employers may contribute to an excepted-benefit health reimbursement arrangement (HRA) will also increase to $2,100. The increases are due to inflation and are expected to encourage more Americans to use HSAs as a powerful tool for healthcare spending and long-term savings, especially for retirement.