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CMS lowers interest rates

October 31, 2013HME News Staff

WASHINGTON - CMS has announced a 0.5% decrease in the interest rate on Medicare overpayments and underpayments, according to a recent AAHomecare bulletin. The rate is now 10.125%. Interest on overpayments and underpayments begins to accrue on the date a refund is first requested. Rates are assessed every 30 days and are not prorated when overdue payments are received in the middle of a 30-day period, according to the bulletin. Interest charged on overpayments is reimbursed through an approved schedule....

AAHomecare, CMS, Interest rates, Medicare, Overpayments, underpayments

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