Many Trading Partners have questions surrounding the PY transaction, when it should be submitted, and what information should be in each of the reported segments. This training aid should help in determining if and when to file a PY transaction. The following is specifically covered in this document:
- When to file a PY transaction
- Medical Only Claims
- Awarded Lump Sum Payments – Compromise Settlements
- Awarded Lump Sum Payments – Permanent Partial Disability awarded by the Commission to be paid in a lump sum
- Clear guidelines on what to populate in each segment within your SROI transaction.