Reimbursement
Pronunciation: /ˌriːɪmˈbɜːrsmənt/
Reimbursement (noun)
- Money paid back to someone for costs they already paid, often after they submit proof of the expense.
- An amount an insurance company pays to cover a loss or medical cost that the person has paid.
- Formal payment made by an organization to recover expenses, usually under a policy, contract, or government rule.
Examples
- The reimbursement covers the money I spent on repairs.
- The company sends reimbursement after you submit the receipt.