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MA plans have a maxium annual limit on OOP costs called a?

User Cvsdave
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Final answer:

MA plans have a maximum annual limit on out-of-pocket (OOP) costs called an annual limit. This limit helps protect individuals from excessively high medical expenses.

Step-by-step explanation:

MA plans have a maximum annual limit on out-of-pocket (OOP) costs called an annual limit.

Health insurance plans often have various costs associated with them, such as deductibles, co-insurance payments, and co-payments. In the case of MA plans, there is a maximum limit on the amount a person has to pay out-of-pocket in a given year, which is known as the annual limit. This limit helps protect individuals from excessively high medical expenses.

For example, if an MA plan has an annual limit of $5,000, once a person has paid $5,000 in out-of-pocket costs for covered services in a year, the plan will cover 100% of any additional costs for the rest of the year.

User Jakoss
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