catastrophic limit

catastrophic limit

Managed care A ceiling–eg $1000 on the amount of money that a person must pay out-of-pocket for the health care expenses incurred by a catastrophic illness–eg AIDS, burns, CA, MVA, etc, before the insurer pays bills
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The catastrophic limit for the portfolio, reached on a per-occurrence basis, may not need to total the replacement cost of all the properties combined.
8 million of the elderly and disabled Americans who receive Medicare benefits will have to pay the full catastrophic limit of $3,700 a year for prescription drugs, according to an analysis by Kenneth E.

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