out of pocket

The administration estimates that about 18.7 million people will save about $7.4 billion next year alone from the cap on out-of-pocket spending and less publicized changes.

Under the California bill, those rebates are to be used “for the sole purpose of lowering deductibles and out-of-pocket cost for consumers,” said Assemblymember Jim Wood, a Democrat.

It also put a $2,000 cap on out-of-pocket drug spending for Medicare drug coverage.

Just remember that you're on the hook for higher out-of-pocket costs.

Moody’s insurance considered it “experimental and unnecessary,” he recalled, so he had to pay about $2,700 out-of-pocket.