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.
In fact, the annual fee is billed in advance, and cardholders are usually able to close their accounts and receive a credit for the fee paid. For example, Citi allows cardholders close their accounts and receive a credit within 37 days of their annual fee being billed.