Is it possible to bill charges only in UB04 and not in HDFA 1500

Yes can be done updating "Bill only UB04" in payor. Once is checked the payor will be billed only on UB04 and not in HCFA 1500.

Navigate to Manage Data>>Manage Payors

Add a new Payor or Edit an existing Payor. Check mark "Bill only UB04:". The respective payor will be billed only on UB04 and not in HCFA 1500.

The patient in the below screen shot is assigned a payor that can only bill UB04. So the same bill cannot be generated in HCFA 1500.