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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Once they reach the doughnut hole amount, seniors must pay for their drugs until they reach the catastrophic limit of coverage.
According to AARP, Medicare Part D benefits typically cover the first $2,800, then members have to pay expenses out of pocket until reaching a catastrophic limit of often greater than $6,600.
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.
"This demand was made because the local government cannot fulfill the basic needs of the province, due to central resolutions, and the deterioration of services that reached to catastrophic limits", he added.

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