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.
You may want to consider not filing claims for smaller events to avoid premium increases. Finally, the cost of your insurance is directly linked to your policyâs deductible amount. The deductible is the amount of money that you agree to pay as part of a claim, before your insurer pays the remaining amount towards that claim. For example, if your vehicle incurred $1,000 of damage in an accident and your deductible was $250, you would pay the first $250 and your insurer would pay the remaining $750.