The highest coinsurance an insured will have to pay. After this amount is paid, the insurer will cover all expenses up to the policy limit.
Insurance Encyclopedia
Out of Pocket Limit for Health
The maximum co-insurance an individual will be required to pay, after which the insurer will pay 100% of covered expenses up the policy limit.
Out Patient for Health
A patient who does not reside in a hospital in which he has received treatment.
Out-of-area (Health Insurance)
Treatment provided outside of the usual geographic coverage area.
Out-of-pocket costs (Health Insurance)
The costs the insured must pay; for example, deductible or prescription medication costs.
Out-of-pocket limit (Health Insurance)
The limit on coinsurance the patient will have to pay before all expenses will be paid by the insurer, up to the policy limit.
Outage Insurance
A type of insurance which covers against loss of earning due to failure of machinery to operate because of an insured peril causing damage to the premises.
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Consequential loss insurance applicable to losses incurred during the tie a piece of machinery has been put out of commission by a described accident.
Outage insurance (Property Insurance)
Insurance that covers lost earnings due to machinery failure due to an insured peril that damages the insured’s premises.
Outcomes measurement (Health Insurance)
A way of measuring the treatment provided to a patient and the patient’s responses to each treatment.
Outcomes Measurement for Health
A method of keeping track of a patient’s treatment and the response to that treatment.