With some health insurance policies that have high out-of pocket maximums, a year of large medical bills could be a tragedy for you and your family. However, as bad as it is, there might still be a bright side.
If you’ve already had to pay the out-of-pocket maximum amount for a policy coverage period, you may have the opportunity to get much or all of the other medical care you need during that period covered at 100 percent by your insurance company (depending on your plan’s provisions).
So, if you’ve been putting off expensive medical treatment and you still have time to act within the policy coverage period, you might be able to receive care without paying anything.
Beware, however: If it’s too late in the policy coverage period or if you wait too long, you may not be able get the treatment before a new out-of-pocket maximum kicks in. If that happens, you will have missed your chance.
So, if it ever looks like you’re going to have to pay your out-of-pocket maximum, first verify your coverage, and then move quickly!
Editor’s note: This article is for general informational purposes only and should not be considered professional advice. Be sure to review your insurance policy carefully to ensure that your medical treatment is covered by your insurance company.
