IRS INSURANCE COMPANY PAYMENT SUMMARY
Practicefirst will aggregate client's IRS Form 1099’s through February 17th. These forms (1099-Misc) represent all of the payments made to you during calendar year 2016. The IRS matches the aggregate of all 1099’s to the appropriate line of your entity’s tax return, to ensure recipients properly report their income. In addition, any interest paid on claims is separately reportable on IRS Form 1099-Int. This information is also matched and it is critical to properly report this income on the correct line of your tax return to avoid IRS scrutiny for under reporting income.
By law, insurance carriers are required to mail them by January 31st. However, our past experience indicates that they do not comply with the due date and therefore they are not all generally received until the third week in February. At that time, we will send them to our clients by mail or through our courier service.
UNIVERA – IMPORTANT UPDATE REGARDING PRODUCTS
Univera Healthcare will offer Medicaid Managed Care, Child Health Plus and Health and Recovery Plan (HARP) to Erie County residents beginning in the summer of 2017, pending approval by the New York State Department of Health.
Per Univera, you will have an opportunity to provide services for these product lines under your existing Participating Provider Agreement. The reimbursement schedule will be available on the secure portion of their Website on or around February 1, 2017 at UniveraHealthcare.com/Provider.
Univera will provide further administrative details and other important information prior to the date when these products will be offered in Erie County. Please direct questions to your Provider Relations representative directly, or call the Provider Relations department at 716-857-4647.