Suspense payments

A suspense payment is a payment that BillingCenter has received that is not associated with a known policy or account in BillingCenter.

For example, suspense payments might be created in the following circumstances:
  • The policy administration system receives payment for a policy for a new account before the policy is bound. The policy administration system sends the payment to BillingCenter, but it has not yet sent any account or policy information.
  • The account information for a payment is erroneous or missing altogether.
Once received by BillingCenter, suspense payments can have one of the following statuses:
  • Open - The target policy or account has not been found
  • Applied - The payment is associated with a known BillingCenter policy or account and the funds are transferred to that policy or account
  • Reversed - The payment was reversed either due to payment info being entered incorrectly or the bank not honoring the payment
  • Disbursed - The money from the suspense payment has been returned to the original payer when the insurer cannot determine the policy or account the payment belongs to

For more information, see Suspense payments.

Working with suspense payments

You can query for, create, and update suspense payments through Cloud API. You can also perform actions to manage suspense payments: apply them, reverse them, and create disbursements for them.