Having a baby? Perhaps by C-section? Have 10K sitting around for the hospital bill? Whether you do or don’t, the answer to whether you’d like to pay the 10k yourself is probably, ‘no’.
The Affordable Care Act, which became law last March, no longer permits insurance companies from imposing lifetime dollar limits on essential benefits such as hospital stays, nor can they deny coverage to any child under the age of 19 due to a preexisting condition.
The Affordable Care Act means that all health insurance plans must cover preventative services such as contraception, mammograms, etc., without charging a deductible, co-pay or coinsurance. Couple that with the extension for children living at home to remai on plans till 26, and this translated into thousands of dollars of savings in medical expenses.