Definition of Reimbursement:
The action of repaying a person who has spent or lost money.
Amount refunded for costs incurred or expenses paid.
Reimbursement is most commonly associated with business expenses. Many companies have policies outlining when they will reimburse employees for out-of-pocket expenses. Typically, these expenses are related to travel and can include the costs associated with hotels, food, ground transportation, and flights (travel reimbursement). Companies may also reimburse employees for other types of expenses, such as college courses or continuing education (tuition reimbursement).
Reimbursement is compensation paid by an organization for out-of-pocket expenses incurred or overpayment made by an employee, customer, or another party. Reimbursement of business expenses, insurance costs, and overpaid taxes are common examples. However, reimbursement is not subject to taxation.
Synonyms of Reimbursement
Amends, Atonement, Compensation, Indemnification, Kickback, Making good, Paying back, Recompense, Recoupment, Redress, Refund, Refundment, Reparation, Repayment, Requital, Restitution, Retribution, Return, Satisfaction, Squaring
How to use Reimbursement in a sentence?
- Every year, the employees received a one hundred dollar reimbursement to cover the cost of the uniform they must wear.
- Per diem rates are daily rates paid to employees as reimbursement for business trips. .
- Reimbursement of everyday medical costs.
- Insurance reimbursement includes repayment for expenses repaid to the insured, such as medication. Tax refunds are a form of reimbursement. .
- Sometimes you may overpay for a shipment and you must hope that the other party will give you back a reimbursement .
- I was offered a reimbursement from the pizza company because they put too much sauce on the pizza and it burned my mouth.
- Reimbursement is money paid to an employee or customer, or another party, as repayment for a business expense, insurance, taxes, or other costs. .
- Business expense reimbursements include out-of-pocket expenses, such as those fro travel and food. .
Meaning of Reimbursement & Reimbursement Definition