02- 031 C.M.R. ch. 845, § 2 - Standards for Minimum Interest Payments
A. A
health insurance carrier may aggregate interest owed to a health care provider
on overdue undisputed claims if:
1. The
health insurance carrier aggregates interest owed on all overdue claims,
including claims for which the interest due is less than $2.00.
2. The health insurance carrier establishes a
mechanism to respond to written inquiries from providers within 30 days
regarding how much interest the provider is owed.
3. The health insurance carrier pays interest
owed to a provider at least annually if the unpaid interest at the end of the
year exceeds $10.00. Annual interest must be paid within 30 days of the end of
the calendar or fiscal year. Whenever the interest owed to a provider exceeds
$50, the health insurance carrier must comply with the requirement of
subsection
2(A)(4).
4. The health insurance carrier pays interest
owed to a provider at least quarterly if the aggregate interest owed at the end
of the quarter exceeds $50.00. Quarterly interest must be paid within 30 days
of the end of each calendar or fiscal quarter.
B. If a health insurance carrier does not
aggregate interest owed to a provider for overdue claims, interest must be paid
on any overdue undisputed claim for which the interest payable is greater that
$2.00.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.