What does that mean
- CDHP = A Consumer-Directed Health Plan, which encourages you to shop smart for health care and puts you in control of your health care spending. These plans cost you less per pay period but have a higher annual deductible than the Core PPO.
- HSA = Health Savings Account, where both you and the Company can make tax-free contributions.
- PPO = Preferred Provider Organization, a medical plan option with higher employee pay period costs but a lower annual deductible than the CDHP + HSA options.
- Deductible = The amount you pay before the plan begins to pay benefits.
- Coinsurance = The percentage of cost you pay for benefits after you meet your deductible.
- Out-of-pocket maximum = The most you will pay in a plan year before the plan covers your eligible expenses at 100%.