Overview
The Adjuster Payout is a setting that determines how your adjuster will be paid by selecting and entering either a dollar amount or a percent of a fee that the adjuster will receive.
When setting up Adjuster Payouts under the Personnel Manager page, you will also be able to apply a 'Holdback' if you pay the adjuster only a portion of the claim until you are paid by the Carrier. The ability to deduct a dollar amount from each claim to help offset the cost of 'E&O Insurance' is set up here as well.
Individual User Payout Setup
When adding a new user to your FileTrac system, you will need to set up their User Payout for the Fees and Services that have been created in your system via the steps below:
1. Click on 'Personnel Manager'
2. Locate the User in the list or search for the User and click on their Name
3. Click on User Payout Setup
4. Holdback Configuration (Optional): A Holdback is a percent of the fee that is temporarily withheld from the adjuster for a certain amount of time. A Holdback is sometimes used as a way for an IA firm to make a partial payment to the adjuster before being paid by the Carrier. Type in the % and number of days the pay will be withheld.
5. E&O Insurance Rate (Optional): Some firms deduct a certain amount per claim to help cover the cost of E&O Insurance. Enter the dollar amount per claim that will be withheld from the adjuster for E&O Insurance.
6. User Payout Setup: Choose which payout option will apply to this user for Fee Schedules and Services by checking the appropriate box.
Option 1 – Choose this option if you want the settings to only apply to all FUTURE Fee Schedules and Services.
Option 2 – Choose this option if you want to set the rate for all EXISTING and FUTURE Fee Schedules and Services.
Option 3 – Choose this option if you want to set the rate for each Fee Schedule and Service Individually. In this case you would NOT be paying out the same rate on all of the Fee Schedules and Services.
If the same rate applies to most of this user's payout, you may choose the appropriate Option 1 or 2, follow the directions below, then proceed to the steps for Option 3 before clicking 'Close Page'.
For Options 1 and 2:
7. Click the drop-down menu, select either % of Fee or Amt/Qty, and enter the Value of the User Payout.
8. Click 'Update Services'. Then click 'Close Page'.
For Option 3:
9. Click the drop-down menu for each Fee Schedule and Service, choose either % of Fee or Amt/Qty, and enter the User Payout.
10. Once the payout % or Amount has been entered for each Service, click on 'Update Services'
11. Click on 'Close Page'
