The health insurer or your employer can verify the status of your coverage. In addition, the words "qualifying (or qualified) high-deductible health plan" or a reference to IRC (Internal Revenue Code) Section 223 will be included in the declaration page of your policy or in another official communication from the insurance company. To be a qualified plan the deductible cannot be below the annually declared minimum and out-of-pocket maximums cannot exceed the maximum as outlined below:

  1. The minimum annual deductible cannot be less than $1,400 for individual coverage or $2,800 for family coverage in 2021

  2. A deductible greater than the minimum is permitted in a qualified plan, but the maximum contribution cannot be more than $3,650 for individual coverage OR $7,300 for family coverage in 2021;

  3. The maximum out-of-pocket expenses are capped at $7,000 for individual coverage and $14,000 for family coverage in 2021; and

  4. Deductibles and out-of-pocket maximums are adjusted annually for inflation by the IRS and US Department of Treasury. 

A qualified HDHP with family coverage may have deductibles for both the family as a whole (an umbrella deductible) and for individual family members (embedded deductibles). If either the deductible for the family (umbrella) or the deductible for an individual (embedded) is below the minimum annual deductible for family coverage ($2,800) for 2022, the plan is not a qualified HDHP.

If you are still not clear, your next best bet is to call your insurance provider or speak with your HR professional to see if they can give you a clear answer.

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