There are often out-of-pocket costs you must pay when you use health care services, even when you have insurance, such as a visit to the doctor or medication. Here are some fees that add up to your total out-of-pocket costs:
- Copays
- Deductibles
- Coinsurance
- Out-of-network payments
There are limits on how much of these costs you have to pay. Once you hit this limit, called the out-of-pocket maximum, your plan will pay 100% for covered benefits. The out-of-pocket maximum does not include your monthly premiums
The out-of-pocket maximum will vary each year. With the exception of grandfathered policies, all health plans, including those offering only catastrophic coverage, must limit out-of-pocket spending to $7,150 for an individual and $14,300 for a family in 2017.