Hospital indemnity insurance (HI)
Hospital indemnity insurance refers to a type of supplemental health coverage that provides a cash benefit when you are admitted to a hospital. This benefit can help pay for expenses not covered by your primary health insurance, such as deductibles, co-pays, or other out-of-pocket costs.
US Department of Health and Human Services (HHS)
HHS refers to the U.S. Department of Health and Human Services. Its goal is to advance the health and quality of life of all Americans by delivering effective human services and promoting steady progress in the sciences that support medicine, public health, and social programs. Background on HHS The HHS was established in 1979 when […]
Highly compensated employee (HCE)
Defining Highly Compensated Employees (HCEs) According to the IRS As defined by the IRS, an employee qualifies as a Highly Compensated Employee if they satisfy one of the following criteria: Why Distinguish Highly Compensated Employees? Separating HCEs from other employees promotes fairness in retirement benefit distribution. This IRS regulation ensures that the tax advantages of […]
High-deductible health plan (HDHP)
A High-Deductible Health Plan, commonly referred to as an HDHP, is a health insurance option designed with lower monthly premiums but significantly higher deductibles. This means the insured individual must pay a larger amount out-of-pocket before insurance benefits begin to apply for covered medical services. A Closer Look at HDHPs Traditional group health insurance often […]