Kentucky Sample Letter for Return of Overpayment to Client
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How to fill out Sample Letter For Return Of Overpayment To Client?
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FAQ
SUMMARY: This final rule requires providers and suppliers receiving funds under the Medicare program to report and return overpayments by the later of the date that is 60 days after the date on which the overpayment was identified; or the date any corresponding cost report is due, if applicable.
Communicate with the customer about the overpayment as soon as possible and confirm how they would like to proceed. Options for handling overpayments are to either refund the amount or establish a credit for it.
How to write this credit letter: Carefully explain how much the customer has overpaid. Inform the client how you plan to correct the error. Offer additional service.
A payment Medicare makes for services another payer may be responsible for. Medicare makes this conditional payment so you won't have to use your own money to pay the bill. The payment is "conditional" because it must be repaid to Medicare if you get a settlement, judgment, award, or other payment later.
Request Immediate Recoupment: Occurs when Medicare recovers an overpayment by offsetting future payments. Recoupment may be partial (for example, a percentage of payments recouped) or complete. Upon your request, your MAC can begin recoupment immediately by following the demand letter instructions.
I acknowledge on [date] I received an over payment in the amount of $____________. I understand that [Company Name] will need to be reimbursed. I have selected the checked option below to repay the company. ? ____ Deduct the overpayment from my salary from next pay period.
If a customer pays you more than the amount required to pay a debt in full, you can mark the invoice as paid in full and write off the overpayment.
For Medicare overpayments, the federal government and its carriers and intermediaries have 3 calendar years from the date of issuance of payment to recoup overpayment. This statute of limitations begins to run from the date the reimbursement payment was made, not the date the service was actually performed.
I acknowledge on [date] I received an over payment in the amount of $____________. I understand that [Company Name] will need to be reimbursed. I have selected the checked option below to repay the company. ? ____ Deduct the overpayment from my salary from next pay period.
Call 1-800-MEDICARE (1-800-633-4227) if you think you may be owed a refund on a Medicare premium. Some Medicare Advantage (Medicare Part C) plans reimburse members for the Medicare Part B premium as one of the benefits of the plan.
