Definitions for "Maximum Out-of-Pocket"
The most money you will be required to pay on an annual basis for deductibles and co-insurance. It is a stated dollar amount set by the insurance company, in addition to regular premiums.
The amount of money an insured will pay in a benefit period in addition to regular premium payments. Noncovered expenses are the employee's responsibility in addition to out-of-pocket amounts.
The maximum amount of money an insured will pay in a benefit period, in addition to regular premium payments. The out-of-pocket payment is usually the sum of the deductible and coinsurance payments.