HIPAA Exam HIO-201 Topic 2 Question 67 Discussion

Actual exam question for HIPAA's HIO-201 exam

Question #: 67
Topic #: 2

[All HIO-201 Questions]

Select the correct statement about the 820-Payment Order/Remittance advice transaction.

AIt can be used for the payment of provider claims.

BIt can be used to pay for insurance products (either individual or group premiums).

CIt can function solely as a remittance advice.

DElectronic Funds Transfer is fully supported.

EThis transaction can carry either summary or detailed remittance information.

Show Suggested Answer

Suggested Answer: D

by Soledad at Apr 26, 2024, 01:06 AM

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Deonna

1 months ago

Wait, there's an 820 transaction? I thought we were still using carrier pigeons for payments. *chuckles*

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Lisbeth

2 months ago

This question is making me feel like a financial wizard! I'll go with option B - the 820 can be used to pay for insurance premiums.

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Isabella

2 months ago

I'm leaning towards option C. The 820 transaction can function solely as a remittance advice, without the payment order.

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Dick

3 days ago

It's good to know that the 820 transaction can serve different purposes.

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Dick

5 days ago

That's true. It doesn't necessarily have to include a payment order.

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Dick

15 days ago

Option C is correct. The 820 transaction can indeed function solely as a remittance advice.

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2 months ago

I think option E is the correct answer. The 820-Payment Order/Remittance advice transaction can carry both summary and detailed remittance information.

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Justine

2 months ago

Yes, that's right. Option E is the correct statement about the 820-Payment Order/Remittance advice transaction.

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Justine

2 months ago

I agree, option E is correct. It can carry both summary and detailed remittance information.

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Aimee

2 months ago

I think the correct statement is A) It can be used for the payment of provider claims.

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