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09-01-2005, 07:25 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,450
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Health Insurance Caps
I had read that some familys with sick kids are running up against the caps on medical insurance. What kind of caps are there for FIRE types purchasing their own insurance? and is this of concern to folks?
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Re: Health Insurance Caps
09-01-2005, 07:49 AM
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#2
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Moderator Emeritus
Join Date: Feb 2004
Location: minnesota
Posts: 13,228
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Re: Health Insurance Caps
I think lifetime caps generally range from 1 to 3 million. Caps of a million are very common and often date back to the 1970s with no increases since then.
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Re: Health Insurance Caps
09-01-2005, 11:22 AM
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#3
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Recycles dryer sheets
Join Date: Mar 2005
Posts: 199
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Re: Health Insurance Caps
Most of the PPO plans seem to have 'caps.' The HMO plans don't.
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Ginger
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Re: Health Insurance Caps
09-01-2005, 11:40 AM
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#4
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Moderator Emeritus
Join Date: Feb 2004
Location: minnesota
Posts: 13,228
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Re: Health Insurance Caps
Some HMO plans also have lifetime caps. Don't know to what extent and if any particular state has limitations on lifetime caps for health insurance (PPO and HMO) plans in their state.
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No more lawyer stuff, no more political stuff, so no more CYA
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Re: Health Insurance Caps
09-01-2005, 01:21 PM
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#5
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Recycles dryer sheets
Join Date: Mar 2005
Posts: 199
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Re: Health Insurance Caps
The HMO plans don't seem to have a cap out here in Southern CA. Best to check fully. One major illness can run up that tab.
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Ginger
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Re: Health Insurance Caps
09-01-2005, 02:40 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,391
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Re: Health Insurance Caps
The HMOs don't have a maximum lifetime cap but they ALWAYS cap the amount of care that you can get. That's what HMO's are all about.
So to say that the HMOs don't have a cap is misleading
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Re: Health Insurance Caps
09-01-2005, 04:04 PM
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#7
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Recycles dryer sheets
Join Date: Mar 2005
Posts: 199
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Re: Health Insurance Caps
I believe 'cap' refers to a money cap, and not the quality of care offered.
We can really start a huge discussion about the different HMO plans and if they deliver good care. A whole different ballgame.
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Ginger
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Re: Health Insurance Caps
09-01-2005, 04:16 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,450
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Re: Health Insurance Caps
I believe all of the plans offered through our work are capped at 1 million.
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Re: Health Insurance Caps
09-01-2005, 04:52 PM
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#9
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Re: Health Insurance Caps
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Re: Health Insurance Caps
09-02-2005, 06:53 AM
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#10
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Moderator Emeritus
Join Date: Feb 2004
Location: minnesota
Posts: 13,228
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Re: Health Insurance Caps
Maddy, our PPO insurance through work has a two million dollar cap. We bought up to the bigger cap a couple of years ago. For a group plan, it really wasn't that expensive to increase the cap.
For individual plans, I don't have a feel for the pricing to get a plan with no maximum lifetime benefits or the cost differences based on different caps. It would be interesting to see whether anyone here shopped for individual insurance and compared costs of different maximum benefits.
HMOs haven't interested me much personally because you generally are stuck in a particular geographical area to use the HMO physicians etc.
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No more lawyer stuff, no more political stuff, so no more CYA
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Re: Health Insurance Caps
09-02-2005, 12:13 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Jun 2004
Location: No. California
Posts: 1,858
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Re: Health Insurance Caps
When I worked for a BC/BS plan, they would auto reinstate a certain dollar amount each year. At that time it was 100,000.00, and the average Cap was 1M. This would lower the amount that had been applied to the Cap. For those checking on Cap, check for annual auto reinstatement as well.
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