Here is the law regarding interest that can be charged to insurance companies when they do not pay on time. There may be differences depending on contracts and the type of insurance. Linda Coltrin CCA Resource Specialist From: sfvcca-bounce@xxxxxxxxxxxxx [mailto:sfvcca-bounce@xxxxxxxxxxxxx] On Behalf Of Helle Leap Sent: Friday, August 15, 2014 1:11 PM To: sfvcca@xxxxxxxxxxxxx Subject: [sfvcca] Penalty and Interest Does anyone know how much I charge an insurance company in penalty and interest on claims that have been outstanding more than 1 year? Now they have acknowledged that they processed the claims wrong and now they are taking responsibility for the dates of service? My patient is suing them in Small Claims court and they are trying to settle before the court date on Wednesday. Is there an easy formulae to figure out the compounding number? -- Dr. Helle Leap
Attachment:
Health and Safety Code 1371(Time for reimbursment of claims).doc
Description: Health and Safety Code 1371(Time for reimbursment of claims).doc
