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Health Insurance Glossary

Definitions for common health insurance terms

lifetime maximum benefit (or maximum lifetime benefit)

DEFINITION: Lifetime maximum benefit – or maximum lifetime benefit –is the maximum amount a health plan will pay in benefits to an insured individual during that individual’s lifetime. The ACA did away with lifetime benefit maximums for essential benefits. Policies issued on or renewing after September 23, 2010 are required to have no lifetime benefit maximums on any of the essential benefits.