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.
Tag: RAW
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.
Outer Continental Shelf Lands Act
This act makes the Longshore and Harbor Workers Compensation Act apply to work involving the development of the natural resources of the outer continental shelf. A special endorsement, the Outer Continental Shelf Lands Act Coverage Endorsement, amends workers compensation policies to provide coverage for this exposure.