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Lifetime insurance limits?
If the ACA is repealed do you know how the lifetime limits work?
My H is changing jobs and I'm dealing with some insurance things and that got me thinking about how this would work if the lifetime limit and the pre-existing condition clause weren't in place.
I'm guessing the lifetime limits are specific to each insurance company - not across companies. So if we incurred $300k in expenses under United and we now have Aetna, that will be a whole new lifetime limit?
Of course I also have to worry about the pre-existing conditions clause but I think we can bridge that with COBRA.
I'm not articulating this well and I know this case won't be decided tomorrow. I tried finding lifetime limit info on our insurance company website and so far no luck.
Re: Lifetime insurance limits?
Yes, that is correct.
Great! I'm not sure why I'm worrying about this now but that's a huge relief.
Even without ACA a lot of companies were starting to go away from lifetime limits thankfully. Also a lot of companies don't have this stuff online. If you have a benefit booklet it should be in there. But yes it would be for that company only.
Also if you have some sort of continuing coverage or don't go more than a certain number of days (usually 60) without coverage many companies will waive or lesson any applicable pre-existing periods. You would just need proof of your prior coverage (your old insurance co would give you a letter).
(I work for an insurance company so that's my (very limited) amount of knowledge)