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Medicare News Update Medicare Information Resource
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MIR-2006-8A, August 2006
Interest Rate
Medicare intermediaries are required to pay interest on clean, electronic and hardcopy, non-PIP claims that are not processed within 30 days.
The interest calculation is based on the reimbursement amount for the claim and the interest rate in effect on the scheduled payment date. The scheduled payment date is the day the payment is actually mailed or sent by electronic funds transfer (EFT). The interest rates, which are revised on a six-month basis by the United States Department of the Treasury, are as follows:
Scheduled Payment Date |
Interest Rate |
January 1 through June 30, 2003 |
4.25% |
July 1 through December 31, 2003 |
3.125% |
January 1 through June 30, 2004 |
4.0% |
July 1 through December 31, 2004 |
4.5% |
January 1 through June 30, 2005 |
4.25% |
July 1 through December 31, 2005 |
4.50% |
January 1 through June 30, 2006 |
5.125% |
July 1 through December 31, 2006 |
5.75% |
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