A Credit Balance Means That a Variance Is Favorable Since

question 126

True/False

A credit balance means that a variance is favorable since it increases income (just like a revenue).

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Definitions:

Secondary Insurance

Insurance coverage that pays for medical or other expenses not covered by a person's primary insurance policy.

Clearinghouse

An intermediary entity that facilitates the exchange of financial, medical, or other types of information and transactions between two parties.

Electronic Claims Information

Refers to the digital submission and processing of insurance claims, facilitating faster and more efficient healthcare billing.

Assignment of Benefits Clause

A provision in insurance policies allowing the insured to direct payment of benefits directly to a healthcare provider.