Medicare Advantage Prompt Pay Act aims to improve prompt payment requirements for Medicare Advantage organizations.
The Medicare Advantage Prompt Pay Act amends title XVIII of the Social Security Act to enhance prompt payment requirements for Medicare Advantage organizations. It mandates that these organizations provide prompt payment for at least 95% of clean claims within 14 days for electronically submitted claims and 30 days for other claims. The bill also requires organizations to report compliance data, including the number and percentage of claims paid promptly and those for which interest was paid. Effective from January 1, 2027, the act introduces civil money penalties for non-compliance.
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