0
What does contracted rate mean between a insurance company and a facility?
Wiki User
∙ 15y ago
An agreed upon rate for services
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
When a primary insurance payer pays 0 on a 1000 bill and a secondary pays 700 with a 700 contracted amount do you have to pay the difference 300?
With out a doubt...yes. Unless your dentist is a contracted provider through your insurance company, in that case they might have to adjust your account to what the contracted (allowed) fee is per the insurance company. If they are not a contracted provider they don't have to adjust one dime!
What is the difference between in network and out of network insurance coverage?
This can be tricky -- The simple answer is: in-network = phycisicain or facility has a contract with the insurance company. You typically pay some percentage (20% & 30% are common) of the CONTRACTED rate. out-of-network = no contract. Typically you pay 50% of hte billed amount. But don't be fooled -- I've seen where 30% of the contracted rate is MORE than 50% of the non-contracted rate. You really need to take the time to check 20% of what and 50% of what to determine your out of pocket expense.
What is a surety company?
The surety company is usually an insurance company that is guaranteeing the obligation of another party in a contract. In order for a company to write surety bonds, it must be licensed by the insurance departments of the states in which they conduct business. A surety bond is a contract between three parties. The obligee, principal and surety company. The obligee is the party requiring the bond and will be in receipt of the contracted work. The principal is the primary party who will be performing the contracted obligation and the surety ensures that the principal's obligation will be performed.
How much do insurance agents make annually?
Depending on the location, a captive insurance agent (an agent that is contracted through a company, ie: state farm, farmers etc.) in their first year should make between $35-$50k
Can a doctor charge you more for the remainder if the insurance pays what it is worth?
The doctor bills insurance for your office visit. Insurance will pay the doctor their contracted rate and the rest is written off. if you are billed for charges after the insurance paid, call your insurance company.
Would a drug and alcohol treatment facility need to be accredited in order to accept private health insurance as payment from it's client's?
The facility would have to comply with whatever requirement the private health insurance company desires.
Can you find out if your husbands life insurance premium was received by the insurance company?
No. Only your husband can find that information and that he can do so by calling up the insurance company customer care hotline. Alternately, if the insurance company has a website, then you can get the login credentials from your husband and check it yourselves. But, not many insurance companies provide this online checking facility.
What does Michigan laws say about insurance company replacing roof with matching shingles?
There is no law about roofing material match issues with your insurance company. You would need to refer to the policy language that you contracted with and agreed to when your purchased the policy from the insurance company. Most policies exclude coverage for aesthetic match issues.
Can an In Network provider offer a discounted Self Pay package to a patient as an alternative if they are contracted with their insurance company?
In most cases the provider can not. The provider is obligated to bill the insurance. The reason is such transactions can lead to insurance fraud.
Can a medical provider bill the patient the difference insurance company pays?
No, they shouldn't be billing you for the provider discount if the hospital is contracted with the health insurance plan.
Can a noncontracted hmo provider bill a patient?
AnswerYes. "Non-contracted" means there is no contract with the insurance company to prevent the doctor from billing whatever he likes.
Where is the Zamboni Company's US facility located?
There is only one US facility for the Zamboni Company. The Zamboni Company's US facility is located in 15714 Colorado Avenue in Paramount, CA. CA stands for Central America, which is between Northern America and Southern America.
