Are the maximum benefit and the deductible calculated on a plan year or calendar year basis?
The deductible is a calendar year deductible, and has to be satisfied for 2004, and a new deductible will begin on 1/1/05. The maximum annual benefit on the plan is $1000 per calendar year. All participants will have $1000 maximum benefit for services between 10/1/04 and 12/31/2004, and will get a brand new $1000 maximum benefit on 1/1/05.
Related Questions
- Can an individual who is not covered by a high deductible health plan HDHP for the whole year contribute the maximum annual limit established by the IRS?
- Are the maximum benefit and the deductible calculated on a plan year or calendar year basis?
- Is the Deductible and Out-of-Pocket Maximum based on a calendar year or plan year?
