A high-deductible health policy (HDHP) has lower premiums than a preferred provider organization (PPO). It also has a higher deductible and higher annual out-of-pocket maximum. An HDHP protects you from big medical bills resulting from catastrophic illness or prolonged hospitalization. If you’re healthy and could cover a higher deductible and maximum for a terrible illness or accident, then you could consider a high-deductible plan. You might want to put the money you save on premiums into a health savings account (HSA), which would save you money when you file your income tax return. However, if you and your family members deal with chronic conditions and would be unable to cover unexpected medical expenses, the lower deductible and lower annual out-of-pocket maximum of a PPO may be a better choice for you.