As bank failures increased, so did FDIC insurance limits. The coverage is a government-backed guarantee to make sure deposits in insured accounts (up to a certain limit) are not lost when a bank goes under.
Individual account coverage was increased from $100,000 to $250,000, and that increased limit was set to end after 2009. However, lawmakers extended the increased limit until the end of 2013.
Some consumers don't realize that they still enjoy additional protection, and outdated media reports may not have been updated with this news. To reduce confusion the FDIC created a page summarizing changes to coverage limits as a result of the financial crisis.
Even though the limits are still higher, it's not a bad idea to check on your accounts to make sure you're covered. If you have questions, get answers directly from the FDIC - it's worth your time if you've got that much money in the bank.
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