A max out-of-pocket, also referred to as an out-of-pocket maximum, is the most a health insurance policyholder (client) will pay each year for qualified healthcare expenses. When this limit is reached, your health plan will cover 100% of your covered expenses. Depending on the carrier and type of plans available to you, you can usually choose from multiple out-of-pocket limits.
Your max out of pocket is very important because that is the amount you will owe if you have a major illness or accident.
Posted in Definitions