Correct categorizing $ received from and insurance claim.
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ChismTrailLead
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I went to a Medical Clinic that requires payment at time of service . They then filed a claim for me with Medicare. I have now received a check from Medicare paying me a portion of the original amount I paid. How do I categorize these two transactions ?
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Best Answer
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there are multiple ways to address this, but here's what I'd do... You originally paid the bill, so you could enter that transaction in of your checking account (or credit card or cash account, however you paid) using a category for medical care, such as Health & Fitness:Doctor, of whatever seems appropriate in your list of Categories. Then to record the Medicare reimbursement, you'd simply record it as money in (e.g. a positive amount), using the same Category. the end result will be your medical Category will reflect the net amount of your payment less the amount you got back.Quicken Mac Subscription • Quicken user since 19935
Answers
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there are multiple ways to address this, but here's what I'd do... You originally paid the bill, so you could enter that transaction in of your checking account (or credit card or cash account, however you paid) using a category for medical care, such as Health & Fitness:Doctor, of whatever seems appropriate in your list of Categories. Then to record the Medicare reimbursement, you'd simply record it as money in (e.g. a positive amount), using the same Category. the end result will be your medical Category will reflect the net amount of your payment less the amount you got back.Quicken Mac Subscription • Quicken user since 19935