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Why would someone with millions not at least have an ACA plan? Even the worst ACA plan has an out-of-pocket max of around $10K individual and $20K family.
by sgerenser 4y ago
Why would someone with millions not at least have an ACA plan? Even the worst ACA plan has an out-of-pocket max of around $10K individual and $20K family.
- ryandrake 4y agoPersonally, I don't trust "words from an insurance company." My health insurance company has more money and lawyers than I do. If I get cancer or something and they want to drain my life savings, they probably have some words on page 561 of my insurance policy allowing them to do it. What am I going to do about it, hire an attorney with my $0 balance and sue them?
- bornfreddy 4y agoCan you pay some "insurance of insurance", where someone guarantees they will win your fight, otherwise they lose a big chunk of their money as collateral?
- falcolas 4y agoOut of pocket maximums and limits (or aggregate limits) are two different concepts. Once the insurance plan's limit has been reached, it doesn't matter how much you've paid out of pocket. The ACA does prohibit these limits for certain "essential health benefits", but there's a lot of wiggle room that insurance providers will take advantage of.
- sgerenser 4y agoACA plans don’t have lifetime or yearly maximum payouts. As long as the services are covered services, they’re obligated to pay beyond your out of pocket maximum.