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The document is an enrollment authorization agreement for the Optum EPS (Electronic Payments and Statements) solution, which aims to replace paper checks and Explanation of Benefits with electronic payments. It outlines the necessary information required from healthcare providers, including provider identifiers, financial institution details, and submission requirements. The agreement also includes terms and conditions regarding ACH payments, security measures, liability limitations, and the process for disenrollment. Providers must submit a completed W-9 form along with their enrollment to ensure accurate tax identification.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What does EFT authorization mean?

Registered organizations have the ability to pay for queries via Electronic Funds Transfer (EFT). Organizations choosing to pay by EFT must submit an Electronic Funds Transfer Authorization form before EFT payments can be processed.

What is the difference between an EFT and an ACH?

There are two parties: the sender of funds and the receiver of funds. Once the sender initiates the transfer, the request channels through a series of digital networks from the Internet or a payment terminal to the senders bank and then to the receivers bank.

What is Optum EPS?

Electronic Payments and Statements (EPS) EPS provides multiple levels of payment and remittance analysis: View Payment: See a list of all payments made to your organization in the last 30, 60 or 90 days. Choose to download the corresponding HIPAA compliant 835 file (requires auto posting capability).

What is an EFT authorization agreement?

Completing the Medicare Enrollment Application - Electronic Funds Transfer (EFT) Authorization Agreement (CMS-588) application. The Electronic Funds Transfer (EFT) Authorization Agreement (CMS-588) application is used to have your Medicare payments deposited directly into your bank account.

What is the ACH addendum record for Optum?

Addenda records explained An addenda record, often referred to as an ACH addenda record or a Nacha addenda record, is a type of ACH record that provides the supplemental data needed to identify an account holder or provide payment information to the receiver or RDFI.

eps instructions

Optum eps eft user authorization agreement template Optum eps eft user authorization agreement pdf Optum EFT Enrollment phone number Optum eps login Optum pay Optum Pay provider portal Aetna EFT enrollment UMR EFT Enrollment

What is an optum payment?

Optum Pay is an electronic payments and statements (EPS) solution that integrates electronic funds transfer (EFT) and electronic remittance advice (ERA) with a unique payment number for faster, easier reconciliation.

How does an EFT payment work?

EFTs usually process funds via an automated clearing house (ACH) while wire transfers are sent directly between one bank and another.