Dear Addy: Lifetime Caps vs. Annual Caps

 
 
 
 
 
 
 
 
Dear Addy,
I know “Obamacare” eliminated lifetime caps on January 1, 2014, but are there still annual caps on healthcare costs?
Capped-Out
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Dear Capped-Out,
Happily the answer is no, as of January 1, 2014. Actually, it was on September 23, 2010, that the Affordable Care Act (AKA, “Obamacare”) eliminated lifetime limits (a cap on the total lifetime benefits your insurance company will pay) on most benefits in any health plan or insurance policy issued or renewed on or after September 23, 2010.
On January 1, 2014, ACA also prohibited new plans and existing group plans from imposing annual dollar limits (a cap on the total benefits your insurance company will pay in a year) on the amount of coverage an individual may receive.
Sincerely,
Addy
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HFA frequently receives questions from the bleeding disorders community related to advocacy issues. The questions often impact the entire community. In an effort to reach the largest audience possible with our responses to these widely applicable questions, HFA developed “Dear Addy.” Questions submitted to this column are edited in order to protect privacy and should be considered educational only, not individual guidance.