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.
Yes. The deductible is the amount that YOU must pay before the policy kicks in. However, often times there are types of care that are NOT subject to the deductible, and instead require a co-pay. For example: You may have a policy with a $1000 deductible, but a $20 co-pay for a doc visit or prescription.