[morgante]

> I do have health insurance but it only covers around 47% of my medical costs (at least when I go for a primary care visit, I suspect they might even cover less for a more expensive procedure).

Actually, it's the opposite. For the vast majority of insurance plans, there's an annual limit to your copay.

To be honest, if there weren't that limit there would be no purpose to insurance at all.

[UrMomReadsHN]

A few years ago there was no annual limit on my plan. Not with co-pays, just co-insurance. I ended up needing outpatient treatment almost every day for over a month. Each day was a $25 co-pay. I then moved on to a once a week treatment for close to the next year. I could afford that, many people cannot. I was also lucky to be able to collect my pay while I was getting treated because my employer provided me disability. The cost just skyrocketed beyond belief and while I already maxed out my co-insurance my treatment was billed like an office visit so co-pays are treated differently.

[ryanSrich]

Do you mean the insurance company has a limit for what they pay? [1]? I can't find a source for the limited co-pay that I think you're suggesting.

1.http://www.hhs.gov/healthcare/rights/limits/

[zrail]

It's called "out of pocket limit". After you meet your deductible the insurance company will pay for every covered cost except for the copay and coinsurance. Once you've met your out of pocket max they will pay for every dollar of every covered cost.

[Tenhundfeld]

Except prescription drugs. I am not fully informed on how the ACA affected this, but it used to be that insurance plans could exclude certain classes of prescription drugs from out of pocket max.

This is how many people are financially ruined by long-term chronic illnesses. For some less common diseases, medications can easily cost >$10,000 per month – which might not be covered by your health insurance for various reasons or only partially covered. Read the fine print.