An assignment of benefits is when a patient signs paperwork requiring his health insurance provider to pay his physician or hospital directly. AOBs also play a part in other cases dealing with insurance, such as homeowners insurance, but here we are defining the term in the area of medical benefits. Typically, when signing an AOB agreement, you agree to allow the medical provider to seek payment from your health insurance company directly. The intent of an AOB agreement is to make the process easier for you, as you do not need to deal directly with your insurer.
An AOB also can cut out some of the costs in the form of service fees often associated with processing. By doing this, you, as a patient, can focus on your medical treatment and recovery, without having to worry about the process involved with paying your medical bills. When you sign an AOB agreement, you give a third party the right to seek payment for services rendered on the part of the provider, and the medical field is a classic example of where you may sign an assignment of benefits agreement.
Medical insurance claims represent the most common form of AOB agreement. You need to make sure that your insurer authorizes you to use an AOB with your medical provider; otherwise the insurer might not honor the AOB.
While set up to protect you if you participate in a pension or employer-based health plan, it also can present difficulties for providers trying to enforce an AOB.
We hope that it helps you an provides peace of mind about your healthcare business and New York No-State Insurance. Download for free today:. The Difference Between an Authorization and an Assignment. What Our Clients Are Saying. Head Office Islip Ave. You, your employees and agents are authorized to use CPT only as contained in the following authorized materials: Local Coverage Determinations LCDs , training material, publications, and Medicare guidelines, internally within your organization within the United States for the sole use by yourself, employees and agents.
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