What Does Out-of-Pocket Limit Mean?

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What does Out-of-Pocket Limit mean? Read on to discover the definition & meaning of the term Out-of-Pocket Limit - to help you better understand the language used in insurance policies.

Out-of-Pocket Limit

Out-of-Pocket Limit

An out-of-pocket limit is the maximum amount that a policyholder will have to pay for covered medical expenses during a policy year before a health insurance plan pays for any further covered care. Deductibles, co-pay, and coinsurance all count toward this amount. The Affordable Care Act placed caps on out-of-pocket limits to help make health services more affordable.

We hope the you have a better understanding of the meaning of Out-of-Pocket Limit.

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