Having health coverage can help protect you from potentially high costs associated with healthcare. Insurance coverage protects you from high medical costs two ways:
Out-of-pocket maximum: This is the total amount you'll have to pay if you get sick. For example, if your plan has a $3,000 out-of-pocket maximum, once you pay $3,000 in deductibles, coinsurance and copayments, the plan will pay for any covered care above that amount for the rest of the year.
No yearly or lifetime limits: Health plans in the marketplace can't put dollar limits on how much they will spend each year or over your lifetime to cover essential health benefits. After you've reached your out-of-pocket maximum, your insurance company must pay for all of your covered medical care with no limit.