What is “maximum out of pocket?”
This is a yearly limit that a person has to pay for covered services according to her health plan. The following count toward this maximum out-of-pocket amount:
- Deductibles
- Copayments
- Coinsurance
After you spend this amount on deductibles, copayments, and coinsurance, your health plan pays 100% of the cost of covered benefits. This limit does not apply to services that are not covered by the plan.
More questions about insurance terminology? Please review the resources below:
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