What does life “time limits” mean?
This question is becoming less and less asked as it is not as relevant but still important to understand. I say less relevant due to a change in laws from the Affordable Care Act. Before this bill was passed lifetime limits was a “cap” on what the health insurance companies would pay out for medical expenses in a lifetime. For example let’s say you sign up for a health insurance plan that has a $5,000,000 lifetime limit. If you have a bill or bills that exceed that amount the insurance company will stop paying after the lifetime limit is met and terminate your policy That seems like a lot of money but believe me it has happened. Thanks to the affordable care act bill there are no more lifetime limits. You can have a bill for $100,000,000 and as long as your paying your premium the health insurance company has to pay that.
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