Physician Practice

Notice of new interest rate for Medicare Overpayments and Underpayments

Physician Practice Insider, November 1, 2016

On Wednesday, October 12, 2016, CMS posted Transmittal 273, regarding Medicare Regulation 42 CFR 405.378, which provides for the charging and payment of interest on overpayments and underpayments to Medicare providers. The secretary of treasury certifies an interest rate quarterly, using the most comprehensive data available on consumer interest rates. Interest is assessed on delinquent debts to protect the Medicare Trust Funds. The Recurring Update Notification applies to Chapter 3, Section 10.

Effective date: October 18, 2016
Implementation date: October 18, 2016

View the transmittal.

This article originally appeared on Medicare Compliance Watch.

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