02-031 C.M.R. ch. 845, § 2 - Standards for Minimum Interest Payments

Current through 2022-14, April 6, 2022

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

02-031 C.M.R. ch. 845, § 2

The following state regulations pages link to this page.



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.