Direct answer
High-deductible plans reduce immediate costs through lower monthly premiums, but they only provide long-term savings if you contribute to a Health Savings Account (HSA) to cover future medical expenses tax-free.
Internal Revenue Service publication on Health Savings Accounts and other tax-favored health plans. For additional information regarding the specific tax advantages and eligibility requirements for these plans, see the Internal Revenue Service’s guidance on Health Savings Accounts.
What this means for you
High-deductible plans reduce immediate costs through lower monthly premiums, but they only provide long-term savings if you contribute to a Health Savings Account (HSA) to cover future medical expenses tax-free.
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