Definition:
Out-of-pocket expenses are what you pay for health-related services above and beyond your monthly premium. Depending on your health plan, these expenses may include an annual deductable, coinsurance, and copayments for doctor visits and prescription drugs.
Some health plans also have an annual out-of-pocket maximum, or limit that helps protect you from very high additional costs.
Also Known As: out-of-pocket costs, OOP costs
