Employers: New Member – Reading Invoices | Humana

Employers: New Member – Reading Invoices | Humana


Congratulations, your company is now covered
by the peace of mind of Humana health insurance. That means you’ll be receiving regular invoices
to help you manage and pay for your employees’ coverage. So, let’s take a tour through your invoice,
so you know what’s next. On page 1, you’ll find your invoice summary. This is a compilation of the most important
things to know like the coverage month this invoice is about, and the date that your payment
is due, the amount due from your last invoice, total payments received since your last invoice,
amount past due, premiums this period, which shows your premium charges for the current
month, and member adjustments, which is the net amount of member adjustments applied to
your company’s account. The next section, “Fees and Other Adjustments”,
shows the amount of any service fees or other costs or adjustments applied to your company
account. On the bottom, you’ll see the section entitled
“Please Pay This Amount Due”, which is the net amount of money your company needs
to pay that month. This includes any prior unpaid balances. It’s a pretty straightforward and intuitive
way to keep tabs on how much your company and employees are spending on healthcare. Your next page, the group summary page, helps
you understand the breakdown of premiums by product and plan type. The first section, “Payments”, shows the
amount of all payments received. The next section, “Premiums by Product Type”,
breaks down the premium cost by coverage type. Below that, you’ll see “Premiums by Plan
Type”, which shows the quantity and amount spent on each type of plan. If you want to go even deeper, the next section
will show you details of every employee who is participating in the plan. Each employee detail section shows the member’s
name, their ID number, the plan they’re under, the type of coverage they’ve selected,
the cost of premiums for each type of coverage, and the total amount of premiums due for the
member. Each employee’s section will also show adjustments,
which are changes made based on an employee’s life events, enrollment, or change in employment
status. For example, let’s look at the employee
section for Joshua Robertson. Up until now, Joshua was on an EMP, or employee
only plan, that covered only himself. Then, Joshua got married in the middle of
May and wanted to have his wife added to his plan. So, as of the date of marriage, his coverage
changed from an employee only, or EMP plan, to an employee and spouse, or ESP plan. We can see where he was dis-enrolled from
the EMP plan and re-enrolled in the ESP plan. And, we can see how his premium changed to
reflect the new plan. So, that’s how your invoices work. For your convenience, you can also download
your current and past invoices as PDFs or as Excel files. It’s as simple as logging in to the employer
portal, selecting “Go to Billing” and finding the invoice you want to download. And remember, we’re always here to help. That about covers it!

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