This software allows users to track and summarize insurance plans for medical expenses through a user-friendly interface.
Introducing MET, a medical expense tracking software designed to simplify the tedious task of keeping track of medical charges, insurance payments, and account balances. For many patients, this task becomes especially complicated due to the involvement of third-party payers, such as private insurance companies and Medicare. Annual deductibles, coinsurance payments, and co-pays can be difficult to manage within typical household accounting methods, causing many to give up and pay whatever they're told. MET offers a solution to this problem, with the ability to track charges, annual deductibles, coinsurance limits, co-pays, insurance payments, patient payments, and residual balances.
MET allows users to record and summarize an insurance plan benefit period, generating reports for individuals and families covered by separate policies or those who wish to file taxes jointly. This feature enables monitoring of deductible and coinsurance amounts, making it easy to verify the accuracy with which insurance companies apply limits within each policy contract. In addition to tracking insurance expenses, MET can also help users track tax-deductible medical expenses, including those not covered by insurance, such as travel expenses for medical treatments.
The software's versatility is evident as it can track expenses for a single individual or a large family, for a single year or multiple years. Searches and sorting of data can be done by criteria such as patient name, date of medical service, provider, and outstanding unpaid balances. This built-in feature allows easy access for editing or adding payments as needed, making keeping track of expenses much simpler.
By enabling the entry of data from insurance EOBs, MET allows for the verification of charges and insurance reimbursements. This feature provides users with a clear understanding of their financial responsibilities, reducing confusion about medical charges and reimbursement processes. Regular use of MET significantly reduces the end-of-the-year scramble to gather records of medical charges and payments, making tax report preparation more manageable. Organization of potential tax deductions saves time, effort, and money- a valuable advantage for any individual or family trying to manage medical expenses.
In summary, MET provides an excellent opportunity for users to organize their medical expenses, leading to a much-improved understanding of the complex medical charge and reimbursement system. Users of MET report a significant reduction in stress and anxiety over managing medical expenses, as well as time and money saved during tax preparation season.
MET allows users to record and summarize an insurance plan benefit period, generating reports for individuals and families covered by separate policies or those who wish to file taxes jointly. This feature enables monitoring of deductible and coinsurance amounts, making it easy to verify the accuracy with which insurance companies apply limits within each policy contract. In addition to tracking insurance expenses, MET can also help users track tax-deductible medical expenses, including those not covered by insurance, such as travel expenses for medical treatments.
The software's versatility is evident as it can track expenses for a single individual or a large family, for a single year or multiple years. Searches and sorting of data can be done by criteria such as patient name, date of medical service, provider, and outstanding unpaid balances. This built-in feature allows easy access for editing or adding payments as needed, making keeping track of expenses much simpler.
By enabling the entry of data from insurance EOBs, MET allows for the verification of charges and insurance reimbursements. This feature provides users with a clear understanding of their financial responsibilities, reducing confusion about medical charges and reimbursement processes. Regular use of MET significantly reduces the end-of-the-year scramble to gather records of medical charges and payments, making tax report preparation more manageable. Organization of potential tax deductions saves time, effort, and money- a valuable advantage for any individual or family trying to manage medical expenses.
In summary, MET provides an excellent opportunity for users to organize their medical expenses, leading to a much-improved understanding of the complex medical charge and reimbursement system. Users of MET report a significant reduction in stress and anxiety over managing medical expenses, as well as time and money saved during tax preparation season.
What's New
Version 8.1: N/A