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.

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References in periodicals archive ?

The average adjusted per claim out-of-pocket expense for oral contraceptive pills fell from $33.

Contraceptive costs drop 20% under Affordable Care Act

The individual with moderate health issues (yellow and red boxes) will need to decide if the tax benefits offered by an HSA will balance the out-of-pocket expenses required in a HDHP.

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This plan could work well for an executive who does not have access to other administered plans but accumulates out-of-pocket expenses (e.

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HSAs

Depending on your finances, experts say, consumers might want to finance out-of-pocket expenses into the new rate, thereby avoiding having to pay cash upfront to cover closing costs.

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But costs could also be considered from the perspective of insurance companies or individuals' out-of-pocket expenses, Yelin says.

Lung disease a drain on coffers. (Environmental Medicine)

A family of four with $7,000 in annual health care charges, for example, would pay an average of almost $1,000 in out-of-pocket expenses.

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Thus, the auditor is paid only if a tax deficiency is found and no out-of-pocket expenses are incurred by the assessing agency.

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But there is now no ceiling on the out-of-pocket expenses they may face.

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In early September, the House Judiciary Committee approved the so-called "Public Expression of Religion Act," which would bar plaintiffs from recovering legal fees and out-of-pocket expenses in lawsuits successfully challenging government violations of church-state separation.

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WASHINGTON -- The full cost of drugs obtained through patient-assistance programs should be counted as out-of-pocket expenses under the new Medicare Part D prescription drug benefit, according to council members at a meeting of the Practicing Physicians Advisory Council.