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Yes! And in the future, don't make ANY adjustments until all of the benefits have been paid. Might be a hassle at first, but once you have your own "system" in place you will save yourself alot of trouble like this, and it will make for a much cleaner account history and A/R report when someone else has to research the paperwork.
What else can I help you with?
Which insurance policy takes precedence if I have two insurances, one of which is primary?
If you have two insurance policies and one is designated as the primary policy, the primary insurance policy takes precedence over the secondary insurance policy in terms of coverage and payment.
What is the difference between a COBRA prorated premium and a monthly premium?
A COBRA prorated premium is a partial payment for health insurance coverage for a specific period, while a monthly premium is the full payment for coverage for a whole month.
Why would my house payment increase?
Your house payment may increase due to factors such as an increase in property taxes, insurance premiums, or an adjustment in your mortgage interest rate.
What is a insurance payment made by the policyholder called?
An insurance payment made by the policyholder is called a premium. This payment is typically made on a regular basis, such as monthly or annually, in exchange for coverage provided by the insurance policy. The amount of the premium can vary based on factors like the type of insurance, coverage limits, and the policyholder's risk profile.
Why does the principal payment increase?
The principal payment increases because as you pay off more of the loan, the remaining balance decreases, resulting in a higher portion of each payment going towards the principal.
Carer adjustment payment where does it say there is a 12 month adjustment period?
The Career Adjustment Payment is intended to assist families in adjusting after a catastrophic event. This is a one time payment available to families with exceptional circumstances.
Paid 11520 for six months insurance premium what will be the journal entry?
debit prepaid insurance 11520credit cash 11520Debit Insurance Expense 1,920 Debit Prepaid Expenses 9,600 Credit Cash 11,520 This assumes the payment is made in the first month of coverage. If the payment is made before the coverage begins, the entire amount would be posted to Prepaid Expenses. If the payment was made after the coverage began (for example, in the second month of coverage), you would post the remaining number of months times 1,920 to Prepaid and the balance to Insurance Expense.
What is a Medicare adjustment?
If the physican bills a medicare patient $260 and Medicare approves $250 and Medicare Pays $200. Is the Collectible amount $200? Is the balance due by the patient $50? And is there an Adjustment?
Will full coverage cover the insurance holder if they were injured?
If a motorist is injured by an uninsured motorist and the driver has uninsured motorist coverage the insurance carrier will provide coverage, if certain information is obtained on the uninsured driver. If a driver has Medical payment coverage or PIP coverage he or she and any passengers will be covered by the drivers auto policy Medical payment coverage.
What types of car insurance does Allstate sell?
Liability Coverage, Medical Payment Coverage, Uninsured Motorist Coverage, Collision Coverage, Comprehensive Coverage,Personal Injury Protection, Towing and Labor Costs Coverage, Rental Reimbursement, and Sound system Coverage. Those are the options you can get and the payment type is deductible and premium. The deductible is what you pay for the accident and the premium is what you pay per month.
What is the formula of burden coverage?
Burden Coverage Ratio = EBIT/Interest Expense+[Principal Payment*(1-Tax Rate)
What is contractual adjustment?
A contractual adjustment is made by the billing department in a hospital in order to charge a patient's insurance company. The result is that the patient is not responsible for payment.
Is there a period of coverage for car insurance after missing a payment?
30 Days
Which insurance policy takes precedence if I have two insurances, one of which is primary?
If you have two insurance policies and one is designated as the primary policy, the primary insurance policy takes precedence over the secondary insurance policy in terms of coverage and payment.
What is payment for insurance?
Payment of insurance is nothing but the premium paid towards the insurance policy. The premium amount includes the charge of coverage per unit (for example, the charge of coverage for $1000 might be $10. So, to have an insurance coverage for $10,000 the charge of coverage would be $100) plus the expenses incurred by the insurance company for the policy.
Can you go to jail for non payment of the remaining debt of repossessd car?
no
What is the difference between a COBRA prorated premium and a monthly premium?
A COBRA prorated premium is a partial payment for health insurance coverage for a specific period, while a monthly premium is the full payment for coverage for a whole month.
