HDHPs to Be Adjusted 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, 2023, the HSA-qualified minimum deductible will be $1,500 for individual coverage and $3,000 for family coverage for an HDHP.

To ensure HDHPs offered by cooperatives through the NRECA Medical Plan remain HSA-qualified, NRECA will automatically adjust the deductible for co-op HDHPs that have $1,400 individual coverage and $2,800 family coverage deductibles to the new minimum levels of $1,500 for individual coverage and $3,000 for family coverage for 2023. Benefits administrators at impacted co-ops will see this change in their 2023 rates and annual renewal screens. There is no action BAs have to take.

If impacted co-ops wish to retain the previous $1,400 individual and $2,800 family annual deductibles, which will no longer be HSA-qualified in 2023, contact your co-op’s NRECA field representative after annual renewal opens on August 11, 2022.

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.