Electronic Funds Transfer (EFT) - Horizon Blue Cross Blue Shield of New Jersey (2022)

Electronic Funds Transfer (EFT) is a fast and easy way to receive reimbursement in an electronic format from Horizon. EFT helps our providers by improving cash flow, getting faster access to funds, and reducing administrative effort and expense.

EFT Registration
Participating and nonparticipating physicians, other health care professionals, hospitals and ancillary providers may register for Electronic Funds Transfer (EFT) through NaviNet®.

To access this EFT registration information, please sign in to NaviNet.net, select Horizon BCBSNJ from the Health Plans menu and:

  1. Mouse over Claim Management and select EFT/SUA Registration.
  2. Successfully complete our Multi Factor Verification (MFA) process by entering an authentication code that will be generated and emailed to the email address on file.
  3. Select Continue.
  4. Select the applicable Tax ID from the dropdown menu.
  5. Select EFT Registration.
  • Once you access EFT Registration, you will have the opportunity to select and register for all suffixes affiliated with your selected Tax ID number.

Instructions and a glossary that provides details about fields to be completed is available on the initial EFT registration information page.

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Access to this EFT registration information is restricted to NaviNet Security Officers and those designated by the Security Officer to access this information. If you require access to this information, please contact your organization's NaviNet Security Officer.

Registering for and using NaviNet is completely free of charge for all providers. If your organization is not yet registered with NaviNet, please visit NaviNet.net and select CLICK HERE TO SIGNUP.

If you have questions or technical issues pertaining to EFT, please contact our eService Desk at 1-888-777-5075, option 3 weekdays, between 7 a.m. and 6 p.m., Eastern Time or by email at Provider_Portal@HorizonBlue.com.

EFT Frequently Asked Questions

Q. Are reimbursements for all Horizon BCBSNJ products made electronically?
Q. What do I do if my bank information changes?
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Q. What if I do not register to receive EFT?
Q. I received reimbursement for a Horizon claim submission via a single use account (SUA) paper card. Where can I get information about SUA cards?
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ELECTRONIC REMITTANCE ADVICE (ERA) REGISTRATION AND INVESTIGATION REQUESTS

ERA Registration
Providers who are interested in the Horizon BCBSNJ ERA program or Braven Health℠ ERA program may visit our Electronic Data Interchange (EDI) webpage to register.

ERA Investigation Requests
If you need help with a Remittance Advice/835 Voucher investigation, please have the following information available:

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  • Provider NPI and Tax ID.
  • Check date.
  • Check amount.
  • Check number.

If you have any questions regarding ERA, please call the EDI Service Desk toll-free at 1-888-334-9242 weekdays, between 8 a.m. and 5 p.m., Eastern Time. You may also email your questions to HorizonEDI@HorizonBlue.com or BravenEDI@BravenHealth.com.

FAQs

What information is needed for EFT?

In order to receive an EFT, you need to share your banking details with the person sending you one, including your institution number, your branch number and account number, and your transit number.

What is EFT payment processing?

An EFT is an electronic transfer of money from one bank account to another, meaning there is no need for direct intervention by bank staff. EFT payments can be carried out between any two accounts, whether they're based at the same financial institution or not.

How long does a EFT take to process?

The ETF settlement date is 2 days after a trade is placed, whereas traditional open-end mutual funds settle the next day. The difference in settlement periods can create problems and cost you money if you are not familiar with settlement procedures.

How does EFT transfer work?

EFT payments need two parties to make them work: a sender and a receiver. When the sender commits to sending funds to the receiver, that payment goes out through the appropriate payment network and moves money from the sender's account to the receiver's account.

What is an example of an EFT?

Electronic funds transfer example

ATMs. Online peer-to-peer payment apps like PayPal and Venmo. Pay-by-phone systems. Wire transfers.

How do I set up an EFT?

Answer:
  1. From the Tools menu, select Create EFT Transmission Files.
  2. Enter the processing date, select the sponsoring bank, and browse to name the file.
  3. Check the option to Print control report.
  4. Click Create Now to create the file.

Where do I find my EFT number?

After an EFT account request is submitted in Revenue Online, you will be able to see the EFT number in your Revenue Online account. Or you may complete the form DR 5785 authorization. The PIN Code is also emailed to you. If you have multiple tax types, one EFT number and PIN Code may be used for all tax types.

What does EFT stand for in insurance?

An electronic funds transfer, or EFT, is the electronic message used by health plans to order a financial institution to electronically transfer funds to a provider's account to pay for health care services. An EFT includes information such as: Amount being paid. Name and identification of the payer and payee.

How do I check my EFT payment?

Here's how:
  1. In Online Banking for Business, select the Payments & Receivables tab.
  2. Under "File Transfer Facility (FTF)", choose File History.
  3. Select “EFT” and “Received Files” then select Search.
  4. Look for the DEFR 200 report for your EFT Account ID and the last approval date.

Why do EFTs take so long?

It's because all transfers for a bank are done in batches during the day, to an automated clearinghouse. This automated clearinghouse sorts them out and moves them to the receiving bank between two and four hours of being received. The receiving bank gets the transfer within the same day, most of the time!

Do EFT process on weekends?

Electronic funds transfers (EFTs) are not processed on Saturdays, Sundays, or New York Stock Exchange and bank holidays. EFT requests entered after 4 p.m. ET will not process until the next business day.

How long does it take for Fidelity EFT?

How long does it take for an electronic funds transfer (EFT) to process? Electronic funds transfers (EFT) from Fidelity accounts are generally received within 2 business days. EFTs sent to Fidelity accounts are typically available within 4 business days, but the funds are immediately available for trading.

What is the difference between e transfer and EFT?

One further distinction is that EFTs can only be used to transfer money between bank accounts in your name, whereas Interac e-Transfers can be used to send money to a third party—like the colleague who spotted you lunch money the day you forgot your wallet.

Is an EFT the same as a wire transfer?

They both offer secure, convenient ways to move funds, but while EFTs refer to the entire category of electronic payments, wire transfers are simply one example of such a payment. There are a couple of advantages that wire transfers hold over other types of EFT. One of the most important is the speed of transaction.

Do banks charge for EFT?

External transfers are free at some banks, and cost from $3 to $10 at others.

What are the disadvantages of EFT?

List of the Disadvantages of Electronic Funds Transfers
  • Customers need to have the funds available immediately. ...
  • You won't receive a copy of the canceled check. ...
  • It creates purchasing opportunities around the clock. ...
  • Payments can still “bounce” when using an EFT.
Mar 6, 2020

How do I make a standard bank EFT payment?

How to make online payments
  1. Once you have logged into your Internet Banking profile you will see the 'Account Summary' dashboard.
  2. Click on 'Transact' in the top menu bar.
  3. Click on the 'Pay beneficiary tile under 'Pay & Transfer'
  4. Click on the money icon next to the beneficiary you want to pay.

What is EFT identifier?

Electronic Funds Transfer (EFT) indicator means a four-character suffix to the unique entity identifier.

What does an EFT number look like?

The first set of numbers, surrounded on both sides by a "|:" symbol is a nine-digit bank routing number. The second set of numbers is (usually) the checking account number. The third set of numbers is the check number (usually 4 digits).

What routing number do I use for EFT?

Electronic transactions use 61-72. Traveler's checks use the routing numbers with 80 as the first two digits. Automated Clearing House routing numbers are nine-digit routing numbers which are assigned for electronic transactions between financial institutions.

What is EFT Reference number?

Your unique payment reference number (PRN) ensures your payment is credited to the correct account. A PRN may also be called an EFT code. You will have different payment reference numbers for different types of tax. For example, income tax and activity statements.

What is an EFT discount?

How can I get it? The AutoPay/EFT Discount is a 0.25% interest rate discount for making recurring monthly payments via electronic fund transfer (EFT) from a bank account.

What are possible solutions to a denied claim?

A majority of denied claims are administrative errors and once corrected you can resubmit them to the insurance payer. Denied claims with a clinical reason may require you to submit an appeal letter: always send this by certified or registered mail.

What is an explanation of payment?

August 10, 2019. This Explanation of Payment (EOP) shows reimbursements and/or denials based on claims processed by your plan. You are responsible for paying the provider(s) listed if you haven't already done so.

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