Payment and Deductions Report
This report provides our fully insured and self insured STD/LTD customers access to payment activity information. The report provides a claimant listing of net payable amounts, stop payments, repayments and reversals of payments. Additional deduction reporting is available.
Data details — what's in? What's out?
This section provides information which is specific to the payments in a period report. Please refer to the information in the Understanding the data details section for general information on the details for all reports, including Marked up in Error (MUERR) claims and data processing delays.
- Transactional report — listing of paid claims with optional tabs for deduction detail.
- Includes a reference tab of definitions.
- Includes stops, reversals, and repayments.
- Data is updated daily, but there is a 2 day data processing delay.
- The user selects selects the disability benefit type(s) they want in the report: fully-insured STD, fully-insured LTD, self-insured STD, and/or self-insured LTD.
- The user defines the start and end date for review period.
- Claims with a payment date within the review period are included.
- User can choose optional deduction-related reports:
- Deduction Detail typically includes multiple rows of deduction detail for each claimant check (number of rows depends on review period selected).
- Deduction Summary includes one row of deduction totals for each claimant.
How can I use this information?
This report, which is essentially a payment database, can be used a number of ways. It contains a variety of information on every paid claim for the time period specified. The report can help answer questions like: What is the total amount paid for a particular month? Or, how much premium does our company need to remit to our health insurance carrier?
It can also be sorted in several valuable ways:
- by policy and/or division
- by claim status (open/closed)
- by payment status
In addition to sorting, all the functions of Excel can be utilized to add and manipulate data. For example, a report which was run for a 6 month period could be adjusted by the user to include a field that would identify the month that the payment was made.
For more ideas on how to use this information, refer to the section titled Interpreting the reports.