- designating unbudgeted expenses, or ready cash paid out, as for miscellaneous items
- designating expenses requiring payment from a person's own financial resources and not covered by insurance, an expense account, etc.
out of pocketout-of-pock·et
The definition of out of pocket is something that you had to pay for yourself, expenses incurred that you were responsible for or money losses you had to bear.
When you go on a business trip but decide to take yourself out to dinner and pay on your own, the cost of the dinner is an example of an out of pocket expense.
- Calling for the spending of cash: out-of-pocket expenses.
- Paid for out of one's own resources; not covered, shared, or reimbursed: out-of-pocket costs.
- Individually responsible for an amount of money: a company that is $10 million out-of-pocket for costs associated with the project.
- Lacking funds: hungry, cold, and out-of-pocket travelers.
- Alternative spelling of out of pocket.
- Certain members may also choose to visit an eye care professional who is not on the approved list of providers, but the member is required to pay for the visit out-of-pocket and then submit a claim to be reimbursed for the charges.
- If you have Medicare and a Medicare supplemental policy, Medicare pays its share of the bill and the supplemental policy will pay your share of your health care costs, reducing or eliminating your out-of-pocket expenses.
- The Pre-Paid plan is typically a health plan where members pay a certain lump-sum into the plan at the start of the year, and this total covers co-payments and other "out-of-pocket" costs incurred throughout the year.
- Plan members should review their policy documents carefully so they understand which services are covered under the policy and how much, if anything, they are required to pay out-of-pocket towards their dental care.
- In many cases, recipients with an approved referral can visit a civilian provider with no out-of-pocket expense or deductible, and co-payments on prescription drugs filled at civilian pharmacies are relatively low.