What are Health Insurance Lifetime and Annual Limits?

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What are Health Insurance Lifetime and Annual
Limits? Insurance companies place limits on the
benefits that individuals can receive from their
Pennie health insurance plans. It means the
insurance company sets a limit on what it will
pay for covered services. Generally, these
limits are classified as annual maximum benefit
and lifetime maximum benefit. Annual maximum
benefit The insurance company will pay for the
services you received a maximum yearly amount
that the insurance company will pay. Lifetime
maximum benefit The maximum dollar amount that
an insurance company will pay for benefits for as
long as an individual is enrolled in the plan.