In the late 80s, the pharmaceutical sector began processing insurance claims electronically. This new system meant that the pharmacy benefit manager needed to route transactions. This need led to the creation of the bank identification number. 

More identifiers for routing transactions, such as the processor control number and the Rxgrp number, were developed to simplify the process. 

Use Of A Processor Control Number 

As we mentioned earlier, the most crucial function of a processor control number(PCN) is to route pharmacy reimbursements transactions for health insurers. 

What this means is that with your processor control number, your member profile can be located under a pharmacy benefits manager, and this allows you to enjoy drug benefits. 

If you’re wondering, a pharmacy benefits manager is a company that provides and manages prescription drug benefits for your health insurer. 

In essence, they are the middleman between drug manufacturers and your insurance company, and they play a significant role in ensuring drugs are more accessible and affordable for insurance users. 

Another possible use for processor control numbers is that a Plan Benefits Manager may use them in differentiating different plans and benefits packages. 

Insurance providers usually have different coverages that come at different prices, so it makes sense that each plan would cover a list of drugs that differ from each other. 

With a Processor Control Number, it would be easier for the Plan Benefits Manager and your insurance provider to differentiate their available benefit packages. 

Note that not all companies use a processor control number for this purpose. They may choose to use another number, such as a group ID, to differentiate their plans. Some businesses may not even separate their plans at all. 

Where to Find Your Processor Control Number 

You can find your processor control number on your health insurance ID card alongside other essential information such as your subscriber number, group number, and plan name. 

Your processor control number should be labeled as RxPCN followed by a series of alphanumeric or numeric values. 

If you cannot identify your processor control number from your health insurance card, it would be helpful to reach out to your insurance provider for further assistance. 

Another tip for locating your processor control number is usually grouped with your bank identification number, group number, and plan type. 

Other Information Used For Transaction Routing 

Bank Identification Number (BIN) 

Remember that your processor control number is a secondary means of routing your pharmacy transactions. 

The primary number used in confirming what company will reimburse the pharmacy for the cost of your prescription is the bank identification number. 

While the number helps to identify what bank issues a card, in the medical field, a bank identification number has nothing to do with banks. When filling out your prescription, you will be required to provide your bank identification number. 

Like we mentioned earlier, this number is used to determine which insurance provider will pay for your claim on prescription at a pharmacy. 

Note that the bank identification number is no longer supported, and it is now referred to as an Issuer Identification Number (IIN). 

To obtain an issuer identification number, you would have to contact the American National Standards Institute (ANSI) via their website and follow the instructions given there. 

RxGrp 

This is another identifier used that pharmacies use in processing your benefits. It is the last element used in routing transactions according to the NCPDP. 

RxGrp is also called a prescription group, and it is displayed as a series of numeric or alphanumeric numbers on the front of your card. 

Some insurance providers will group your benefits based on physical benefits, while others may base them on pharmacy benefits. How your benefits are grouped is dependent on your health care plan. 

Not all insurance companies provide this information on your health insurance card, and it may not always be necessary to provide it. If you need it, you should contact your health insurance company. 

Additional Information On Your Health Insurance Card 

Plan Names 

Your plan name is the name of your insurance plan or coverage from your insurance provider. Usually, this is displayed at the top of your insurance card. The most common names for insurance plans are Cigna, Aetema, Kaiser, and Humana. 

Rx 

The Rx symbol is a pointer that your insurance company covers either a portion of the total costs on your prescription. 

Some companies may place a % or $ sign with a stated number. This will paint a clearer picture of how much of your costs are covered by the insurance company. 

We should mention that not all companies will state this on your insurance card. However, if you know about your plan’s copay or coinsurance policy, you may not need this information displayed on your card. 

Formulary 

You may not find this on most insurance cards, but if it is on your, you should know what it means. A formulary is a list of medications covered by your insurer. 

Sometimes your health insurer will have different formularies for different plans. Usually, each formulary is differentiated using a number; formulary 1, formulary 2, etc. 

Conclusion 

Your processor control number forms part of a group of information used in processing your claims by pharmacies. 

With either your processor control number, bank identification number, or Rxgrp number, a pharmacy can identify who will reimburse them for the cost of your prescription medication. 

You must have this information at your fingertips because processing a claim without them would be very difficult. Fortunately, insurance companies have made it easy to access this information via your insurance card. 

If you cannot find this information on your card or you’ve lost it, we advise you to contact your insurance company to reissue you a new card or provide you with the information you need. 

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Other Names For Subscriber Number

As expected, every insurance company will incorporate different designs when issuing their insurance cards to stand out.

A majority of the companies you come across will use the term “subscriber number.” However, other companies may have a different name for referring to the same thing.

Other terms you’ll encounter that mean the same thing is:

1. Subscriber ID

2. Policy Number 

3. Membership Number 

4. Member ID

5. Identification Number 

So if you’re ever looking for your subscriber number on your insurance card and can’t find that exact term, search for the other names we listed; they all mean the same thing.

Why Your Subscriber ID Is Important

It may seem like some irrelevant string of numbers, but your policy number is one of the most important bits of information to have.

An example of an instance where you would need your subscriber ID is during a hospital trip. Your health care provider will require you to provide them with your subscriber ID. With it, they can verify that you are medically insured, and the hospital will send your bill to your insurance provider. 

Individuals with automobile insurance will need their member ID if they are involved in an accident. This will help their insurance company identify their account and make the necessary payments as per their insurance plan. 

This is the case for anyone with any form of insurance. Without your subscriber ID, it isn’t easy to make claims on your insurance company when the need arises. 

Another instance where you will need your membership number is when discussing your insurance company. 

Like we mentioned earlier, your ID number is a form of verification. With it, your company can verify that you are one of their policyholders. In addition to that, you will also need it to make any changes to your current policy plan. 

What Do I Do If I Lose My Subscriber ID?

Life is filled with many unforeseen events; many of them are unfortunate. For example, if you lose your insurance card or are stolen, you may feel a panic attack. Understandably so since it contains vital information about your insurance policy, the most important being policy number. However, there’s no need to panic. If you’ve lost access to your insurance card, there are other ways to regain your vital information. 

Search Your Email 

Usually, after subscribing to a policy with an insurance company, you will receive a mail with some vital information. Most of the time, your policy number will be part of the information shared in this mail. 

Check Other Documents

Your insurance card isn’t the only thing that contains your policy number. Other documents may also carry your membership ID. 

An example is your bank statement. Another place to check for your insurance policy number is on any document issued to you upon registration with your insurance provider. 

Use Online Resources 

Thanks to modern technology, many insurance companies have made it easy to access your information online. Log on to your company’s website with the necessary details, and voila, you’ve recovered your membership ID.

Contact Your Insurance Company 

It would be best to do this as soon as you realize your insurance card was missing. Most insurance providers will reissue a new card at a fee. All they may require is a valid means of identification and some form of proof that you are a policyholder in their company. 

If you bought your insurance through an agent, you could also contact them to provide you with your insurance policy number. And finally, there is the option of calling your company’s customer care department. They should provide you with your policy number after you provide them with the necessary information to verify your identity and your status as a policyholder in their organization. 

Protecting Yourself Against Insurance Identity Theft 

You may be familiar with the term identity theft already, a situation where someone takes out products in your name, i.e., they pretend to be you. 

In this context, someone poses as you so they can enjoy your insurance coverage. This is most common with medical insurance. According to statistics, 27% of data breaches were related to medical records in 2017. This can pose a danger to the victim’s life because of the hospital’s changes to their medical record. Protecting yourself from insurance identity theft is no different from how it is done against common identity theft. 

The most critical step is to keep details relating to your policy safe. Treat your insurance card the same way you would your bank card, as it contains vital information about your insurance policy. 

If you have soft copies of your insurance documents on your smartphone phone, try not to leave them where it is accessible to anyone who is on your phone. Yes, Keep it in a hidden folder, or set up a password to access it. 

Be careful when using public WiFi, as fraudsters can hack or mimic them. We advise you to avoid opening sensitive applications like your bank app when connected to public WiFi. 

Conclusion

Your subscriber ID number, which is located on the front of your insurance ID card, is one of the most vital pieces of information you’d need. It is important because it would be impossible to verify you as a policyholder in an insurance company without it. 

If you ever lose your insurance ID card, you can always access your policy number via other sources such as policy documents, bank statements, and online resources. 

Lastly,  you must keep your membership ID alongside other bits of information regarding your insurance safe lest you become a victim of insurance identity theft. 

The post Where Is The Subscriber Number On An Insurance Card? appeared first on Insurance BlogX.

There are other confusing situations where you would be confused about who the subscriber of an insurance policy is, for example, in the case of parents and their children or family members or a case of employer and employee. 

Usually, in parents and family members, the parent is the subscriber, and their children are dependents. So on this note, we can say that not everyone included in an insurance policy is the subscriber or owner of that policy. 

Rather they are dependents of the subscriber and do not have the power to make changes to a policy. So, for example, if your insurance is through your employer, the employee is the subscriber. 

Other Resources For Identifying And Insurance Subscriber

Your insurance ID card is the number one stop for identifying the insurance subscriber on an insurance policy. But what if you don’t have your insurance card, or you are still unsure who the subscriber is? 

Luckily, you can consult other resources if you are unsure who the insurance subscriber on a policy is. 

Insurance Declaration Page/ Policy Declaration Page

Your insurance declaration page is a document that acts as proof of your insurance. On it, you can find all sorts of vital information such as your policy number, what type of policy you are under, and what your policy covers. In addition, you should be able to get a hint or a clear answer on who the insurance subscriber on a policy is from your insurance declaration page.

The Internet 

The internet has made it easy to access all sorts of information with the touch of a button. For example, many insurance companies have online databases accessible to their policyholders via their websites. 

With the right information, you can log into this database and see who the insurance subscriber on your policy is without any hassle.

Company Contact Centre 

For some, this may be the easier option; after all, the call center or customer care department of any company is to help you with any inquiries or challenges you may be facing. 

Depending on which is preferable for you, you can reach out to your company’s contact center via phone call, email, or an in-person visit. 

Your insurance declaration page should contain information on how you can reach out to your company should you have any questions you need to be answered. 

Once you’ve been able to satisfy the call center agent that you are a policyholder in their establishment, they should have no trouble telling you who the insurance subscriber on a policy is. 

Who Is An Insurance Subscriber?

An insurance subscriber also referred to as a policyholder or policyholder is the one who makes premium payments on insurance policy. In the real sense of things, they are the ones subscribing or buying into the insurance policy, so technically, they are the owners of the insurance policy. 

Why Is It Important To Know Who The Insurance Subscriber Is? 

Multiple people can be listed under an insurance policy. In this case, there is an insurance subscriber, and the other persons are their dependents. So why is it important to know who the insurance subscriber is? 

Remember that we mentioned the subscriber is the owner of the policy. This means they have the power to make changes to the policy if they see a need to. Such changes could inconvenience you if you are not consulted first and do not know who to meet. 

In another instance, you may want to make changes to the policy you are under. But because you are not the policyholder, it is impossible to discuss and implement these changes with the insurance company. Hence, it is important to always identify your insurance subscriber. 

Frequently Asked Questions 

Is The Insurance Subscriber The Same Thing As A Policy Holder? 

Yes, it is. The insurance subscriber is the same thing as the policyholder or policy owner. In essence, the company recognizes them as the direct beneficiary of a policy and the one who is allowed to make changes to their policy as they deem fit. 

Can There Be More Than One Subscriber On An Insurance Policy? 

Usually, the answer to this is no. This is because there can only be one policyholder at a time. A common exception to this case is that of joint life policies. 

Some couples may wish to purchase a joint policy instead of separate policies. In such cases, we can say they are both owners of the policy. However, a more common phenomenon is that one person can own multiple policies. 

Can A Child Be An Insurance Subscriber? 

Minors cannot enter into legal contracts; hence they cannot be subscribers on an insurance plan. However, an adult can enter into a contract on their behalf. A clear example is a case of a parent listing their children as a beneficiary of their insurance plan. 

Conclusion

An insurance subscriber also called the policyholder or policy owner enters into a contract with the insurance company. They own the policy and can make any changes to it when the need arises. 

An insurance subscriber can also be defined as the one responsible for making premium payments in a policy. 

Several resources such as your insurance ID card, policy declaration page, and online insurance account are available for you to determine who the subscriber of an insurance policy is. 

Knowing who is the subscriber of the policy you are under makes it easy for you to communicate any concerns you may have with the policy and negotiate for changes. 

The post How To Identify An Insurance Subscriber On An Insurance Card? appeared first on Insurance BlogX.

Policy numbers are used for identification purposes. They are usually long strings of numbers and letters that are used to identify an insurance card in a database when there are many of them. A policy number is typically printed on the front of an insurance card when it is issued.

The policy number should be written in a way that can be read by a machine, so there is no need to input the whole card number. The Member ID number on the card is enough to identify a person.

Member ID: This number is located on the front of a member’s card and it identifies the person when they are accessed from other systems. Member ID numbers are not randomly generated but they are assigned by staff at the Insurance companies when an individual becomes a member of their insurance plan, which means that it will always be unique for each person.

A policy number is a set of digits that is used to identify a particular insurance policy. A policy number typically consists of at least six digits.

The policy number is a unique identifier used by the insurance company to identify your policy. It is important for you to know what number your card should have, and in this section, we will tell you what exactly the numbers mean.

1. Insurance cards are used for identifying various types of policies that an individual may have. This card not only has the name and address of the person, but also contains other details like date of birth, gender, driving license number and so on. The importance of this card cannot be overemphasized because it contains all information about you which can be used in case of emergencies or accidents. And so it is very important that you know how to read your insurance card correctly.
2. The insurance card is the most important piece of tangible personal property you will ever own.
3. It contains important information about you and your coverage, and is a critical document to have on hand when dealing with a car accident or a medical emergency.
4. It’s also an important document for those who are simply trying to keep their family safe from financial disaster.
5. The card holder can call the company and give their card number to verify their identity.
6. A person can give the card number to the doctor or hospital staff for reimbursement.
7. They can also provide it for roadside assistance service providers who will contact the company on behalf of the cardholder.
8. The cardholder can show it to any law enforcement officer, fire department official, or medical provider, if they have been involved in an accident or have been injured.
9. This is a policy number for insurance card, it is required for the persons to claim the benefits.
10. The policy number is usually on the back of the card.
11. Each insurance company has their own policy on the number of digits used on the card.
12. The policy number is required to determine which insurance company issued the card.
13. The policy number is located at the top right corner of an individual’s card.

A policy number is a 10 or 11 digit identifying number, usually on an insurance card, that acts as the policyholder’s reference. A policy number identifies the type of product, who the policyholder is, and when it became active.

The benefits of having a policy number on an insurance card are a convenience for the customer and protection for the company. With this information readily available at all times, companies are able to accurately identify their customers when they need to process payments or change policies.

Policy numbers are mainly used in countries where socialized healthcare exist. Insurance companies in these countries need to be able to identify which customer they are processing payments for in order to determine whether or not they are eligible for coverage under certain programs.

A policy number is an important part of an insurance card. It identifies the individual who holds the insurance but also includes information about the type of coverage that is offered.

Typically, a policy number will be found on an insurance card in the form of a 15-digit long number. This provides specific information to help identify an individual’s coverage and ensure they are receiving their benefits correctly.

A policy number is also what company representatives will use to quickly verify that someone has coverage with them.

• Anyone who is uninsured and requests an emergency hospital visit.
• Anyone who is in a car accident.
• Anyone who visits the emergency room for non-emergency care.

It’s better to take a photo of your insurance card and keep it in your phone or email it to yourself so that you always have it on hand.

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Insurance ID Card

Your insurance ID card is a documented proof of your insurance, while an insurance declaration page is another document that proves your insurance; you are not expected to carry it everywhere you go. 

Your ID card contains vital information that is handy for various circumstances, and its design allows you to carry it everywhere you go.

On it, you can find your policy number, what kind of insurance package you are registered under, and of course, your NAIC Number. 

While it may not be explicitly labeled as NAIC number or company number, it is easy to identify. 

Policy Declaration Page 

Another place you can find your NAIC number for Geico Insurance is on your policy declaration page. This document contains detailed information about your contract with the insurance company. So naturally, their company number would be within it.

Asides from your company’s NAIC number, other useful information on an insurance declaration page are details on how to contact the company, what type of policy you are under, and what your policy covers. 

Online Resources 

Lastly, you can consult the internet for Geico’s company number. You can either search Google directly for “Geico NAIC number” or visit NAIC’s website to search for the company number. 

Geico Insurance Numbers  

You should note that Geico offers consumers several policies, so it is important you specify whether you are after car insurance or property insurance; else, you will get the wrong number. 

If you are unsure what policy your insurance falls under, you can simply contact your company’s call center department and request their NAIC number. 

Source: mgtblog

What Is A NAIC Number?

NAIC is an acronym for the National Association of Insurance Commission. Your NAIC number can also be referred to as your company number. NAIC is an organization-specific to the insurance industry, and its objective is to provide regulatory support. 

NAIC assigns a number to each company listed as an insurance company within US territory, and this number is referred to as the NAIC number or company number.

Why Is A NAIC Number Important?

Every company in existence is bound to a certain set of rules and regulations, either at the state level or federal level. 

The same rule applies to companies in the US. The first purpose of the NAIC number is to identify an insurance company’s rules and regulations it is expected to comply with. 

The second purpose of a company number is that you need it to file or report a claim. Think of a NAIC number as the equivalent to your policy number or subscriber ID. 

Without your subscriber ID, your insurance provider can’t verify you as one of their policyholders. In the same vein, without your company’s NAIC number, it would be difficult to trace relevant information on the company. 

NAIC provides detailed information on a company’s financial status and licenses. So if you wish to find out more about your company regarding how they have conducted themselves, you can do so using their NAIC number. 

It will give you assess to any previous complaints filed against them. 

To wrap it up, a company’s NAIC number makes things easier for the insurance client and the insurance bearer, and other agencies who may need it. 

Frequently Asked Questions: Geico NAIC Number

What Does NAIC Stand For?

NAIC stands for the National Association of Insurance Commission. It is a standard-setting and regulatory body in the US. 

Is NAIC Specific To The US Alone? 

Yes, it is. NAIC’s objective is to harmonize standards and regulations in the insurance industry across the US. However, we should point out that other countries have their multiple respective bodies with the same function as NAIC, and many of them may be similar to NAIC. A good example is the North American Industry Classification System (NAICS). 

Is NAIC And NAICS The Same?

No, they aren’t. These organizations are separate from each other. However, in terms of structure they are similar as they are set up to fulfill the same objective.

When Will I Need A NAIC Number? 

You will need your company NAIC number to learn more about your company.

With it, you can access consumer reports on their financial health and any fraud cases related to them. 

You can also use it to file a report or claim your company. You may also need to provide certain legal authorities like the DMV for documentation purposes. 

Can A Business Have More Than One NAIC Number?

Yes, some agencies will have more than one NAIC number, depending on the nature of their business. However, remember that NAIC codes are assigned based on the primary focus of an establishment. 

If a parent company (Geico) has subsidiaries spread across different sectors (automobile, casualty, indemnity, etc.), each company will be assigned a different NAIC number. 

Conclusion

The National Association of Insurance Commission is a standard-setting and regulatory body whose objective is to standardize the insurance industry across the United States of America. 

NAIC issues insurance companies a number used to state the company’s primary area of focus within the insurance industry. 

With this number, individuals can obtain useful information regarding their insurance company, such as its financial health status and licenses. 

You can find Geico’s NAIC number in your insurance card, in copies of your insurance documentation, or online. 

The post How Do You Find The NAIC Number For Geico Insurance? appeared first on Insurance BlogX.

On the other hand, individuals on a private Medicare plan are more likely to belong to a group and thus have a group number assigned to them, which you can find on their card.

You can determine if you are on a private Medicare plan from your insurance card. If you are on Part A or Part B, you are not on a private plan and don’t belong to any group.

However, if you are on Part C, Part D, or Medigap, you are on a private plan and will likely belong to a group; hence you should have a group number.

What Is A Medicare Group

Medicare does not offer group coverage off the bat like other insurance providers. However, there are some group plans available to private companies.

An example of this is the Medicare Advantage Plan. Under this plan, there is a package called the Employer Group Waiver Plan (EGWP). The plan is similar to the traditional group insurance plans offered by most companies, unions, and government agencies. The plan is offered to employees who are 65 and above, as well as to retirees.

Most EGWPs take the form of Preferred Provider Organizations (PPO). This gives it an advantage over other Medicare plans because it offers certain benefits that most plans are not privileged. In terms of what the package includes, it is mostly similar to any other insurance plan- monthly premiums, copays, coinsurance, and a deductible.

If you belong to an EGWP, there is a high chance of finding a group number on your insurance card.

Medicare Group Number

A group number is assigned to individuals covered by a group plan in insurance. Usually, employers who register their employees for insurance use a group plan. Each group member will then be assigned a group number and a member number.

The function of a group number is to identify the benefits associated with the plan you are under. Health care providers also use it for their billing process.

Group numbers are peculiar to employer-sponsored or group plans. This means that individual plans directly purchased from an insurance provider or through their agent will not come with a group number.

You will be assigned another number called a member number or policy number for individual plans. And it has the same function as a group number.

Medicare Private Insurance Plans

Medicare plans do not make provisions for groups; hence they do not have corresponding group numbers. However, private Medicare Plans may come with a group number.

Private Medicare Insurance Plans

Medicare Advantage Plan (Plan C) offers the same things as Medicare A and B. Its advantage over others is that it covers additional things not covered by A and B. This includes dental care, vision care, prescription drugs, and more.

Prescription Drugs Plan (Plan D) – Part D covers the cost of your prescription medication, a service not covered by original Medicare.

Medicare Supplement Insurance (Medigap) – This plan works hand-in-hand with your Original Medicare coverage. It does this by taking up the cost of specific deductibles, copays, and coinsurance associated with parts A and B.

Members of this plan are more likely to see a group number on their card corresponding to their coverage. There is also a possibility that members of this plan are not grouped by a company but rather by area or plan type.

Frequently Asked Questions 

Can I Use My Medicare Group Number Without My Card?

Yes, you can use your group number without your card. The card provides easy access to the number without thinking too much.

Suppose you know the number by heart, have it written down somewhere, or displayed on your insurance online profile. Then, you can simply access the number from those avenues.

How Can I Replace My Medicare Insurance Card?

Getting a replacement card is as easy as the click of a button. First, log into your account via the Social Security website and select the replace document tab. It will take about 30 days (a month) before receive a new card.

It is crucial that you verify the address on your profile before ordering a new card. The reason for this is to ensure your card gets to you, as the insurance company will send it to the address on your file.

If you prefer to order your replacement card offline, you can skip the website and contact Medicare’s customer service department to apply for a new card.

What Is The Difference Between A Member Number And A Group Number?

The insurance world is riddled with lots of terminologies like any other industry. For example, a member number is a unique number assigned to an individual when buying a policy with an insurance company.

A group number is assigned to a group of people under a policy, usually employees of a company. Both numbers have the same function of identifying the plan you belong to and its benefits. It also aids your health provider in processing your bill.

Conclusions

Medicare is not a group coverage plan; hence they do not usually assign group numbers to their customers. However, some of their private plans allow groups to register under them, so members of this plan will be assigned a group number.

To access your group number, you should check the front of your Medicare insurance card. You can also look at your policy declaration statement, your online data, or simply contact an insurance agent to tell you your number.

Sources 

What is My Medicare Group Number

My Medicare Number: Everything You Need to Know 

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