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What is the difference between an annual deductible and annual out-of-pocket maximum?

April 26, 2017annual deductible difference maximum out-of-pocket

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What is the difference between an annual deductible and annual out-of-pocket maximum?

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You must meet the plan year deductible before the plan pays most benefits. The out-of-pocket maximum is the most you will pay for eligible expenses, including prescription drugs, during the plan year. After reaching the maximum, the plan pays 100% for eligible expenses.