Skip to Main Content

Print | Bookmark | | Font Size: + |

July 6, 2023

Prompt Payment Interest Rate for July – December 2023

CGS must pay interest on clean claims not subject to the periodic interim payment (PIP) mechanism if payment is not made within 30 days after the receipt date. The Treasury Department determines the interest rate on a 6-month basis, effective every January and July 1.

Effective July 1, 2023, the interest amount is 4.875%. Current and past interest rate amounts are available on the Treasury DepartmentExternal Website website.

Reference: CMS Medicare Claims Processing Manual (Pub 100-04), chapter 1, §80.2.2External PDF

spacer

26 Century Blvd Ste ST610, Nashville, TN 37214-3685 © CGS Administrators, LLC. All Rights Reserved