If your medical expenses are generally limited to preventive care, you should definitely consider an HDHP, especially if you also have the ability to make additional voluntary contributions to your HSA to accelerate the accumulation of funds for future medical expenses. If your in-network medical expenses would trigger the catastrophic limit, you may also want to consider an HDHP, if the nature of those expenses is such that you continue to pay out-of-pocket costs in your traditional plan even after you hit your traditional plan's lower catastrophic limit. This can happen because traditional plans may exclude drug and other costs from their catastrophic limits but an HDHP cannot. With an HDHP, once you hit the catastrophic limit, there is no out-of-pocket expense for covered in-network services. If you have significant medical expenses that do not approach catastrophic limits, you are probably better off in a traditional plan.
In addition, there are a number of steps FEHB members should take to assist them in making an informed decision as to whether or not an HDHP/HSA or HRA is the right health program option for them.
Determine the premium you would pay out of your pay check,
Review the plan design elements: deductible, out-of-pocket limits, the amount the plan contributes to your HSA, known as the "premium pass through," or the amount the plan credits to your HRA,
Subtract the annual plan contributions from the annual plan deductible to determine your true out-of-pocket cost,
Review the eligibility considerations for an HSA. If you are not eligible for an HSA would you accept an HRA?
Ask yourself if you are in a financial position to be able to pay the annual deductible amount required (depending on Self Only deductible or Self and Family deductible) should you or a family member require a high medical cost service in the early months of the plan year,
Determine if your financial resources allow you to make additional tax-deductible voluntary contributions
If you are between the ages of 55 and 65, determine whether or not your financial situation will allow you to make "catch up contributions". Select this link for more information on "catch up contributions,"
Review the listing of the new health care plans available where you live or work, at OPM Tool to Compare Plans by ZIP Code.