Out-of-Pocket Expenses

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Out-of-Pocket Expenses

Expenses that one must pay from one's personal, instead of business, income. Out-of-pocket expenses include mundane, recurring expenses such as paying the home electric bill or buying groceries. Often, however, the term refers to expenses incurred by an employee in the service of the employer. For instance, an employee may buy a more efficient computer program to accomplish his/her office work. These out-of-pocket expenses are usually reimbursed by the employer. Some out-of-pocket expenses, especially those related to education or health care, are tax deductible.
References in periodicals archive ?
Women have seen a 20% decrease in their out-of-pocket expenses for oral contraceptives and intrauterine devices since the implementation of the Affordable Care Act's mandate to cover contraceptives without consumer cost sharing, according to a new analysis published in Health Affairs.
Under another option, employees willing to pay higher monthly premiums could have a deductible of $300 and a maximum out-of-pocket expense of $1,200.
They are not supposed to attract the middle-aged who expect greater out-of-pocket expenses.
The out-of-pocket expense varies from $100 to $250).
Although the average out-of-pocket expense for scenario 1 was 71 percent, about one-half of employees covered by health care benefits would have paid the entire bill for services received.
Thus, the auditor is paid only if a tax deficiency is found and no out-of-pocket expenses are incurred by the assessing agency.
According to the study, the majority of individuals had an out-of-pocket expense of $150 or less and their decline to fill rate was 5.
Medicare beneficiaries do not have any out-of-pocket expenses if the physician administering the vaccine participates in the program.
Maximum out-of-pocket expense for a family was boosted from $1,500 to $2,100 per year.
If the firm determines for "valid business reasons" not to bill a client for an out-of-pocket expense, the expense is deductible in the year that the final determination is made.
15, 2011 /PRNewswire/ -- Assurant Health announced today that it will be offering a payment advocacy service to all its Assurant Health Access(SM) customers who have more than $500 in out-of-pocket expenses related to their healthcare.
has launched Medical Bridge 3000, a hospital confinement indemnity insurance plan that seeks to protect employees against rising out-of-pocket expenses.