Merit pay. Merit pay is a term that describes performance-related pay, most frequently in the context of educational reform or government civil service reform (government jobs). It provides bonuses for workers who perform their jobs effectively, according to easily measurable criteria.
Coinsurance is the percentage of your medical bill you share with your insurance company after youâve paid your deductible. Unless you have a policy with 100 percent coverage for everything, you have to pay a coinsurance amount. You have an â80/20â plan.
The carrier will typically pay the entire claim, and then be reimbursed by the insured. Unlike an SIR, a deductible erodes the limit of liability in the insurance policy. A policy with a $1M limit of liability and a $25K deductible, then, exposes the carrier to $975K.