HDHPs to Be Moved to New HSA-Qualified Minimum Deductible During Annual Renewal

The Internal Revenue Service is raising the minimum individual and family deductibles for a high-deductible health plan (HDHP) to be considered qualified to be paired with a health savings account (HSA). Beginning January 1, 2020, the HSA-qualified minimum deductible will be $1,400 for individual coverage and $2,800 for family coverage for an HDHP.

To ensure that cooperatives’ HDHPs remain HSA-qualified, NRECA will automatically move co-op HDHPs that have $1,350 individual coverage and $2,700 family coverage deductibles to the new minimum deductible levels of $1,400 for individual coverage and $2,800 for family coverage for 2020. Benefits administrators at these co-ops will see these changes in their 2020 rates and annual renewal screens. BAs need not take any action for these changes to occur. If a co-op wishes to retain its current $1,350 individual coverage and $2,700 family coverage deductibles, which will no longer be HSA-qualified effective January 1, 2020, the BA should contact his or her NRECA field representative after annual renewal opens on August 14, 2019.

Co-ops impacted by this change have been notified by an email sent to the co-op’s primary benefits administrator.

If you have questions, contact your NRECA field representative. You also can contact the Member Contact Center at 866.673.2299 or contactcenter@nreca.coop.