The deductible is the amount the insurer will deduct from the loss before paying up to its policy...
out-of-pocket limit (OOP)
Under a health insurance plan, the out-of-pocket (OOP) limit is the maximum amount the covered individual will have to pay for covered health services during the policy year.
Additional Information
Generally included within the OOP are the plan deductible, coinsurance, and co-payments.
Related Terms
A coinsurer is one that shares the loss sustained under an insurance policy.
