Out-of-pocket costs
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Out-of-pocket cost refers to the expenses paid for healthcare services that are not covered by insurance.[1]
Overview
Out-of-pocket costs encompass all expenses one may pay for healthcare services that are not covered by insurance or reimbursed. Out-of-pocket costs include deductibles, copayments, and coinsurance for covered services, as well as the cost of any services that is not covered. For example, a patient electing to undergo a procedure their insurance does not cover would be responsible for 100 percent of the cost of the procedure. This would be considered an out-of-pocket cost.[1]
According to the Centers for Medicare and Medicaid Services, out-of-pocket costs totaled $339.4 billion in 2013.[2]
See also
- Obamacare overview
- History of healthcare policy in the United States
- Premium
- Flexible spending account
External links
Footnotes
