Advertisement

How are annual and lifetime limits affected by the health care reform law?

According to the U.S. Department of Health and Human Services, over 100 million Americans have health coverage with lifetime limits and many plans and policies of all types limit the amount of coverage per year. These limits can create devastating consequences for people who have to rely on their savings to cover the cost of expensive and, in some cases, life-saving treatments.
To address this problem, the Affordable Care Act phases out annual dollar limits by requiring that they be no lower than $750,000 for plans issued or renewed after September 23, 2010, and they are eliminated entirely for all employer and new individual plans, and plans issued or renewed on or after January 1, 2014.
It is a good idea to check with your plan administrator to be sure that you understand any annual or lifetime limits on your coverage. And, until these caps are eliminated in 2014, you may want to consider finding coverage that does not have limits if you have an opportunity to renew or change your coverage.

Continue Learning about Healthcare Reform

How to Pick a Plan in the Health Insurance Marketplace
How to Pick a Plan in the Health Insurance Marketplace
Since the Affordable Care Act’s (ACA) Health Insurance Marketplaces opened for business in 2013, many more people have been regularly shopping for ins...
Read More
What does the term “full-time equivalent” employee mean?
RealAgeRealAge
The term "full-time equivalent" (FTE) employee refers to the full-time equivalent of an employer's p...
More Answers
Will the new healthcare law reduce waste, fraud and abuse?
AARPAARP
Yes. The new health care law reduces waste, fraud and abuse:   The law cracks down on waste, fraud...
More Answers
Are These Patient Apps and Devices the Future of Medicine?
Are These Patient Apps and Devices the Future of Medicine?

Important: This content reflects information from various individuals and organizations and may offer alternative or opposing points of view. It should not be used for medical advice, diagnosis or treatment. As always, you should consult with your healthcare provider about your specific health needs.