How do you handle a bulk insurance check that is asking for a refund? Here is what I have done and need to figure out. Blue Cross sent us a payment on someone who was not our patient. I made them an account and put payment in knowing BCBS would request refund. Last week on our bulk check they started deducting the refund. The full refund amount was $1431 but the bulk check only added up to $1229.20. I went a head and deducted the full $1431 by mistake last week. Ok move to this week and I get the bulk BCBS check and it is short the remaining $131.80. How do I post this since I already deducted the full $1431 last week? I just want to make sure everything balances out correctly at the end. Any advice would be helpful at this point.
If my math is correct, the difference between $1431 and $122.9.20 is $201.80, not $131.80. Is that helpful?
Bottom line is that "Jane Doe" (patient/account made up), should end up with a zero balance. If BCBS paid $1431, then you need to debit the account by the same amount (code 30 or code 31 - check refund), and make a note in the transaction screen the specific check number written back to BCBS (ie., check number 201 as overpayment to insurance company).