Difference between revisions of "Annual limit"
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| − | An annual limit is cap on the benefits a health insurance company will pay to a [[beneficiary]] in a year while they are enrolled in a particular [[health insurance plan]]. | + | An annual limit is maximum limit (also known as cap) on the [[benefit|benefits]] a [[health insurance company]] will pay to a [[beneficiary]] in a year while they are enrolled in a particular [[health insurance plan]]. |
| − | These caps are sometimes placed on particular services, such as prescriptions or hospitalizations. | + | These caps are sometimes placed on particular [[service|services]], such as prescriptions or hospitalizations. |
| − | Annual limits may be placed on the dollar amount of covered services or on the number of visits that will be covered for a particular service. After an annual limit is reached, the beneficiary must pay all further associated health care costs for the remainder of the year. | + | Annual limits may be placed on the dollar amount of covered services or on the number of visits that will be covered for a particular service. After an annual limit is reached, the [[beneficiary]] must pay all further associated health care costs for the remainder of the year. |
Latest revision as of 14:14, 16 February 2017
What is an annual limit?
An annual limit is maximum limit (also known as cap) on the benefits a health insurance company will pay to a beneficiary in a year while they are enrolled in a particular health insurance plan.
These caps are sometimes placed on particular services, such as prescriptions or hospitalizations.
Annual limits may be placed on the dollar amount of covered services or on the number of visits that will be covered for a particular service. After an annual limit is reached, the beneficiary must pay all further associated health care costs for the remainder of the year.
