The minimum wage in Pennsylvania is $7.25, equal to the federal minimum wage. In Philadelphia, where the cost of living is nearly 20% higher than the national average, that hourly minimum has a purchasing power of just $6.12. That's the lowest of any city in our study and its equal to an annual income of about $12,730.
Explanation of benefits. An explanation of benefits (commonly referred to as an EOB form) is a statement sent by a health insurance company to covered individuals explaining what medical treatments and/or services were paid for on their behalf. The EOB is commonly attached to a check or statement of electronic payment.
Definition of coinsurance. 1  1 : joint assumption of risk (as by two underwriters) with another. 2  2 : insurance (as fire insurance) in which the insured is obligated to maintain coverage on a risk at a stipulated percentage of its total value or in the event of loss suffer a penalty in proportion to the deficiency.