out-of-pocket
/'autəv'pɔkit/
Definition
- Adjective:
- Requiring an immediate payment of one's own money: Describes an expense that must be paid directly with personal cash or funds at the time it is incurred, often before being reimbursed.
- Having lost or spent one's own money: Describes the state of being poorer in cash as a direct result of having paid for something.
Usage
- The term is primarily used to describe costs, expenses, or losses that directly reduce the amount of cash a person has available.
- It is often used in financial, business, and medical contexts to discuss unreimbursed expenditures.
Examples
- Adjective:
- All out-of-pocket medical expenses must be documented for reimbursement.
- The business trip left me out-of-pocket by nearly $500.
- These are out-of-pocket costs, so keep your receipts.
Advanced Usage
- "out-of-pocket maximum": In health insurance, this is a cap on the amount of money a policyholder is required to pay for covered healthcare services in a plan year. After this limit is reached, the insurance plan pays 100% of the allowed amount.
- Once I meet my out-of-pocket maximum, my insurance will cover everything.
Variants and Related Words
- Out-of-pocketness (noun, rare): The state or quality of being an out-of-pocket expense.
- Out of pocket (adverbial phrase): In a state of having lost personal money.
- I will be out of pocket until the company repays me.
Synonyms
- Unreimbursed: Not paid back.
- Out-of-pocket is often used as its own specific synonym in financial contexts. Related concepts include personal expenditure and direct cost.
Related Phrases
- Pay out of pocket: To pay for something with one's own money at the point of service.
- We had to pay out of pocket for the car repairs.
Notes
- The term is almost always hyphenated when used as an adjective before a noun (e.g., ). It may not be hyphenated when used predictively or adverbially (e.g., ).
- It specifically refers to cash or liquid assets, not overall net worth or credit.
Adjective
-
calling for the spending of cash
-
his out-of-pocket costs were $10
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