Detailed Answer
In South Carolina, a statement of account must clearly separate charges from credits. Under SC Code Ann. § 40-5-190 (link), attorneys and financial institutions must list every receipt and disbursement. Insurance and government program payments appear as credits in the “Payments” or “Adjustments” section of the statement.
Specifically, you will usually see entries labeled:
- “Insurance Payment” or the insurer’s name (e.g., “BCBS SC,” “Aetna”)
- “Medicaid,” “Medicare,” or other government program credit
- “Third-Party Payment” or “Contractual Adjustment” reflecting negotiated write-offs
These credits reduce your outstanding balance and appear opposite the original charge line items. They are not attorney fees or service charges, but offsets against billed amounts to show what the insurer or program has paid on your behalf.
Key Sections on a Typical Statement of Account
- Charges/Services Rendered: All fees billed, with dates and descriptions.
- Payments/Credits: Insurance, government program payments, and any payments you made.
- Adjustments: Contractual write-offs or negotiated discounts.
- Balance Due: Net amount after all credits and adjustments.
Helpful Hints
- Review the statement legend to decode abbreviations and column headers.
- Match each insurance credit with your Explanation of Benefits (EOB).
- Look for separate columns labeled “Payments” or “Credits.”
- If entries are unclear, contact the billing office for itemized explanations.
- Keep a record of all insurer and government program correspondence for audit trails.
Disclaimer: This article is for educational purposes under South Carolina law and does not constitute legal advice. Consult a licensed attorney for advice tailored to your situation.