Glossary - Q

Qualified HDHP (High Deductible Health Plan)

Federal law defines the characteristics that a plan must have in order to be classified as a Qualified HDHP. In addition to a high deductible, the plan must have a cap, or maximum out-of-pocket limit, on how much the individual can be required to spend on qualifying healthcare costs each year. This limit includes both the deductible and any co-payments that may be the responsibility of the individual, such as fees for doctor visits and prescriptions, after which the insurer begins to pay its share. Check with the IRS, the health plan provider, or a professional tax adviser to confirm that an HDHP plan being considered meets the required standard.

Qualified Medical Expenses

The IRS-designated list‡ of permitted medical expenses. Individuals or families may use funds from their health spending accounts (FSA, HRA, HSA) to cover these specific medical items and/or services. Also known as Eligible Medical Expenses.

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