That's the maximum amount you can pay for healthcare in a year through copays and coinsurance. A few folks never receive enough health-care services to reach their out-of-pocket max amount.
Consider one out-of-pocket maximum to be a bucket. Each time you use your own money to pay for healthcare care or care, it must go into a bucket. When the bucket is full, you've reached your limit. Following that, your Medicare health plan will pay for any Medicare-covered doctors appointments or health treatment you require.
Finally, your plan's out-of-pocket maximum is intended to provide you with tranquillity. So, unless something unusual happens you'll know the maximum amount you'll have to pay every year for your medical needs. And this makes budgeting a whole lot easier.
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