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out-of-pocket expenses

   Also found in: Financial, Idioms, Wikipedia 0.01 sec.

out-of-pocket expenses n. moneys paid directly for necessary items by a contractor, trustee, executor, administrator or any person responsible to cover expenses not detailed by agreement. They may be recoverable from a defendant in a lawsuit for breach of contract, allowable for reimbursement by trustees, executors or administrators, or deductible by a landlord from a tenant's security deposit for damages beyond normal wear and tear.


out-of-pocket expenses noun administrative reembursable expenses, defrayal, defrayment, disbursement, entertainment expenses, expenses, individual expenses, itemized expenses, payments, recompense, recoupment, remittance, remuneration, repayment, travel expenses
Associated concepts: out-of-pocket rule


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FSAs are used to pay for those out-of-pocket expenses that can hurt an employee's pocketbook--things such as co-pays, co-insurance, prescriptions, high-cost dental treatments and necessary vision care such as glasses and contact lenses.
But they provide a greater range of health benefits for the lowest out-of-pocket expenses.
Foley's fifth annual study on SOX costs revealed that while internal costs have gone down, other out-of-pocket expenses, such as audit fees, board compensation, and legal fees, rose over the past year, and, on average, external audit fees have increased 271 percent between fiscal years 2001 and 2006 for companies with under $1 billion in revenue.
 
 
 
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