What Will We Learn If a Higgs Boson is Found?

We examine what can be deduced from the discovery of a Higgs boson, focusing on a possible discovery at LEP. The analysis begins with the most general situation where no further constraints can be deduced, and then specializes to include various assumptions. Assuming naturalness, the relatively large mass suggests that one or more of larger $\tan \beta$, large phase, or extra singlets is present. We discuss the implications of a Higgs mass discovery for the SUSY spectrum, and in particular gluinos and stops. We show that a lighter gluino produceable at the Tevatron remains a likely possibility, in disagreement with a recent claim.