Patch Pocket Meaning
Epicuro Kishore
Out of pocket is a phrase with three different common meanings. It can refer to a person having to pay money themselves, a person being unreachable, or a person acting unnaturally or in a wild, inappropriate way.
When talking about money, a person who is paying out of pocket is making a payment with their own money. Nobody else, such as an insurance company, is paying the cost for them. This usage of out of pocket is not typically considered to be slang and is familiar to most people.
Finally, out of pocket can refer to a person acting out of character or acting in a way that is wildly inappropriate. For example, a birthday clown who is being mean to children and using offensive language would likely be described as acting out of pocket. This usage of out of pocket is popular among younger generations.
According to most sources, the financial sense of out of pocket is the oldest. It has been used since at least the late 1800s. This sense refers to a person figuratively having to take money out of their own pockets to pay someone.
This is not meant to be a formal definition of out of pocket like most terms we define on Dictionary.com, but is rather an informal word summary that hopefully touches upon the key aspects of the meaning and usage of out of pocket that will help our users expand their word mastery.
Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.
If you are a celebrity, a politician, or a wealthy individual with a massive estate, a pocket listing prevents hordes of sightseers from touring your house. Instead, you can hire a real estate agent with a solid list of contacts who can identify the buyers most interested in your property.
A pocket listing can help very high-end and unusual properties when only a handful of prospective buyers exist. It may also work for people who have already identified a likely buyer or those looking to test the market for their property. If the property fails to sell at the original asking price, the seller can move to an MLS listing at a more realistic price.
Pocket listings are legal throughout the U.S. However, the National Association of Realtors (NAR), the trade association, effectively banned pocket listings in 2020 by requiring that all listings be added to the multiple listing service (MLS) within one day of the contract signing.
For this reason, pocket listings may be handled by investment brokers rather than real estate agents. Pocket listings can look dubious because only one person is representing both the buyer and the seller. They may invite discriminatory practices by limiting knowledge of the listing.
JAMES: A pocket world is a part or pocket of the world that you normally wouldn't pay attention to. So we did our first observation where we looked at the things that are [outside], whether they're rocks or plants or animals, and just jotting them down into a notebook. And so today, we're going on our second observation to see if there are any changes or anything new there.
JAMES: I just thought it'd be a good opportunity for them to discover living and nonliving things on their own. But also, I just recently learned just how much kids are taught that land is something to be conquered or taken over. When in reality, land has always been here and it's always been loved. So, instead of saying that, we discovered our pocket world, it's something that we're loving on because we're observing it and giving it our attention at this moment.
JAMES: It's important to change that narrative about how we treat our land, first of all, for me, because now I know that we aren't giving our land enough acknowledgment about what it does for us, and how long it's been here. So, I want my students to know the truth that I know and join me in acknowledging the land that we live on. Just seeing what the land gives us like, the different animals and plants that are out there or the shelter that it may provide.
JAMES: I think it's important to teach my students about people from different backgrounds, because first of all, my classroom is full of people from different backgrounds. But also the world is that way. I don't want my students to leave my classroom, not knowing or feeling uncomfortable or unsure about people. I also think the classroom is one of the safest places, so, if I can foster that questioning and love and acceptance of people, here in my classroom, I think that's something that they will always carry with them.
Anyone who has an insurance policy with a deductible is probably familiar with the term's most common definition: to lay out one's own money. The Oxford English Dictionary traces "out-of-pocket" (with hyphens) as a noun or adjective to an 1885 law journal: "The plaintiffs incurred various out-of-pocket expenses."
A primarily American meaning of "out of pocket," "to be unavailable," traces to a 1908 O. Henry story, the OED says: "Just now she is out of pocket. And I shall find her as soon as I can." The Dictionary of American Slang says it first appeared in the mid-1970s: "I'm out of pocket for a bit, but I'll get back at ya."
Those pockets are handy for other things, too: To "live in each other's pockets" means to be a little too close, or to spend too much time together. The politician who is in someone's pocket might be "lining his pockets" with the proceeds of that relationship. That gift card Aunt Maude gave you for graduation might be "burning a hole in your pocket," meaning you're eager to use it. And if you have "deep pockets," you might have enough money to share with others.
Out-of-pocket costs can be a significant financial burden for many people, especially those with chronic health conditions or who need expensive medical procedures. However, there are steps you can take to manage your out-of-pocket costs and make healthcare more affordable.
An out-of-pocket maximum is the most you have to pay for covered healthcare services in a plan year. The out-of-pocket maximum includes your deductible, copays, and coinsurance. It does not include your monthly premiums or costs for non-covered services.
Once you reach your out-of-pocket maximum, your health insurance plan will pay 100% of all covered healthcare costs for the remainder of the plan year. This means that you will not have to pay anything out of pocket for the rest of the year, even if you have additional medical expenses.
However, zero-deductible plans typically have higher monthly premiums than other types of health insurance plans. This is because the insurance company is taking on more risk by covering all of your out-of-pocket costs.
Zero-deductible plans may be a good option for people who have chronic health conditions or who expect to have high medical expenses in a given year. However, it is important to weigh the pros and cons of these plans before you choose one.
Out-of-pocket costs are an important part of understanding your health insurance plan. By understanding the different types of out-of-pocket costs, such as deductibles, copays, and coinsurance, you can make informed decisions about your healthcare and avoid financial hardship.
If you have high out-of-pocket costs, there are steps you can take to manage them, such as choosing a plan with a lower out-of-pocket maximum or using in-network providers. You can also ask about financial assistance programs that may be available to you.
I am a professional content writer specializing in the health insurance field. My work primarily focuses on simplifying the complexities of healthcare coverage, aiming to provide clarity and insight into an often confusing subject. Empowering people to make informed decisions about their well-being is my passion. At Apollo Health Insurance, we share that commitment. Apollo Health Insurance stands at the forefront of securing the best healthcare coverage for individuals, ensuring affordability without compromising on quality.
2024 Apollo Insurance - Offering Health Insurance For Individuals & Employee Groups. Terms of Service, Privacy Policy - Apollo Health Insurance. All Rights Reserved. 330 SE Douglas St, Lee's Summit, MO 64063, United States
An out-of-pocket maximum is a cap, or limit, on the amount of money you have to pay for covered health care services in a plan year. If you meet that limit, your health plan will pay 100% of all covered health care costs for the rest of the plan year. Some health insurance plans call this an out-of-pocket limit. A plan year is the 12 months between the date your coverage is effective and the date your coverage ends.
Costs you pay for covered health care services count toward your out-of-pocket maximum. This may include costs that go toward your plan deductible and your coinsurance. It may also include any copays you owe when you visit doctors.
Plans that meet Affordable Care Act (ACA) standards are required to have out-of-pocket maximums. As the health insurance industry changes, there could be non-ACA plans that do not meet the same standards.
Individual and family medical and dental insurance plans are insured by Cigna Health and Life Insurance Company (CHLIC), Cigna HealthCare of Arizona, Inc., Cigna HealthCare of Illinois, Inc., Cigna HealthCare of Georgia, Inc., Cigna HealthCare of North Carolina, Inc., Cigna HealthCare of South Carolina, Inc., and Cigna HealthCare of Texas, Inc. Group health insurance and health benefit plans are insured or administered by CHLIC, Connecticut General Life Insurance Company (CGLIC), or their affiliates (see a listing of the legal entities that insure or administer group HMO, dental HMO, and other products or services in your state). Accidental Injury, Critical Illness, and Hospital Care plans or insurance policies are distributed exclusively by or through operating subsidiaries of The Cigna Group Corporation, are administered by Cigna Health and Life Insurance Company, and are insured by either (i) Cigna Health and Life Insurance Company (Bloomfield, CT). The Cigna Healthcare name, logo, and other Cigna Healthcare marks are owned by The Cigna Group Intellectual Property, Inc.
c80f0f1006