Definition of «reimbursement»

Reimbursement refers to the act of repaying someone for expenses that they have already incurred. It is typically done after a person has paid out money for something, such as medical bills or travel expenses, and then seeks compensation from another party, usually an employer or insurance company. The reimbursement amount covers the original cost of the expense, plus any additional fees that may have been incurred. In essence, it is a way to recover money that has already been spent, providing financial relief and assistance to the individual who paid out of pocket.

Usage examples

  1. Expenses reimbursement: Employees can submit their receipts and expense reports to the finance department for reimbursement of their business-related expenditures, such as travel expenses, meals, and accommodation.
  2. Medical reimbursement: Health insurance providers often offer reimbursement for medical expenses incurred by policyholders. This can include doctor's visits, prescription medications, hospital stays, and medical procedures.
  3. Tuition fee reimbursement: Many companies have tuition reimbursement programs in place to support their employees' continued education. Employees can submit their proof of payment for educational courses or degree programs to receive reimbursement for a portion or all of the tuition fees.
  4. Insurance reimbursement: After an insured event, such as a car accident or property damage, policyholders can file a claim and receive reimbursement from their insurance company for the repair or replacement costs.
  5. Travel reimbursement: Companies may provide reimbursement to employees for their travel expenses when they are required to visit other locations for work purposes. This can include airfare, transportation, accommodation, and meals.
  6. Home office reimbursement: With the rise of remote work, some employers offer reimbursement for the expenses incurred by employees in setting up and maintaining a home office, including the cost of equipment, internet connection, and utilities.

Sentences with «reimbursement»

  • * If your policy includes coverage for reimbursement of rental fees, we will provide you with a rental vehicle and pay the fees up to the limit covered. (tdinsurance.com)
  • The job also includes assigning codes to the information for reimbursement from insurance providers and ensuring patient records are accurate and complete. (work.chron.com)
  • To maximize your odds of receiving reimbursement for stolen items, contact your insurance provider within 24 hours. (rismedia.com)
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