Pros of an HDHP:
- Lower monthly premiums compared to many copay plans.
- Eligibility to contribute to an HSA, offering tax advantages.
- Potential for lower out-of-pocket maximums, providing better protection in catastrophic health situations.
Cons of an HDHP:
- Higher deductibles leading to more out-of-pocket expenses before the insurance covers costs.
- The need to pay for most non-preventive healthcare services upfront until the deductible is met.
- May be less suitable for individuals with frequent healthcare needs or chronic conditions due to higher initial costs.