Member Premium Refunds

[LuciP-DH]

Where should the accounts receivable balance for member premium refunds be presented on the assets page?

[Glenn]

Hello LuciP-DH.
Usually if you are paying the member/policyholder a refund you would expect :
DR Premium
CR Cash
upon payout

if you still have the refund as a payable at the quarter or year end that is a payable, not a receivable :

DR Premium
CR Premium Payable ( CR the Due premium line , page 2, line 15.1)

You are indicating you have a receivable ? Then it sounds like a return of premium due and not a refund . A refund goes out the door to the member whereas a receivable or return of premium due is on the asset page 2, line 15.2 as a debit.

Answer : Page 2, line 15.1 for Due premium - DRs


Regards,
Glenn