Bill Reconciliation Report
Bill reconciliation supports reporting of a carrier bill where the bill due date is after the billing period. For example, bill for June billed in April. In this model, the current bill accounts for current coverage for the bill month as well as account for changes that have occurred since the last billing date setting additions and credits accordingly.
This report was designed to be run monthly for carriers, with a dependable billing date established to ensure consistency in reporting retroactivity. Carrier wash rules may be configured for more precise reporting of adjustments. Adjustments are calculated based on billable coverage for the entire month, not based on pro-rated amount based on the # of days covered within a month.
See article on carrier wash rules for more information: https://employeenavigator.zendesk.com/entries/28309610-Carrier-Wash-Rules
As of 3/12/14, this report is in Beta, which means we know it's not perfect yet. Please provide us feedback so we can improve this report!
To run the bill, set the carrier, billing due date, and billing date.
Billing Due Date: Date carrier is billing for coverage.
Billing Date: Date carrier created the bill. The assumption is that billing date is PRIOR to billing due date.
Retroactivity period: This is an assumed period equal to the month prior to the billing date. Any transaction occurring during the retroactivity period that affect a prior billed month will be itemized a credit/debit in the additions and terminations sections.
Billing Due Date: June 1
Billing Date: April 25
Retroactivity Period: March 25 – April 24
The bill reconciliation is broken down into three sections: Current, Additions, and Terminations.
Current: Active coverage for billing due date, as of the billing due date. Coverage added for June 1 after April 25, will be reported in the July bill. Coverage ending prior to June 1 processed after April 25, will be included in the July bill also.
Additions: Transactions processed after the last billing date (one month period prior to billing date) that were effective for a prior bill month are listed as debits, money owed to the carrier. Carrier wash rules are assumed the 15th, unless set at the plan level. Premium will be considered due for the month coverage is effective when effective date is on or before the wash date.
Terminations: Transactions processed after the last billing date (one month period prior to billing date) that were ended for a prior bill month are listed as credits, money already paid to the carrier that needs refunded. Carrier wash rules are assumed the 15th, unless set at the plan level. Premium will be considered due for the month coverage is ended when end date is on or before the wash date.