Maryland HB739 establishes prompt payment requirements for health insurance claims and interest penalties for late payments.

Maryland HB739 mandates that insurers, nonprofit health service plans, and health maintenance organizations pay interest on unpaid claims. Insurers must pay interest at a rate of 1.5% from the 31st day after receipt of a clean claim, increasing to 2% from the 61st to 120th day, and 2.5% after the 120th day. The bill also requires insurers to permit providers to submit claims for reimbursement for up to 180 days after a service is rendered. If a claim is denied, providers must be notified within 30 days and allowed up to 60 days to appeal.

Maryland HB739 establishes prompt payment requirements for health insurance claims and interest penalties for late payments.

Maryland HB739 mandates that insurers, nonprofit health service plans, and health maintenance organizations pay interest on unpaid claims. Insurers must pay interest at a rate of 1.5% from the 31st day after receipt of a clean claim, increasing to 2% from the 61st to 120th day, and 2.5% after the 120th day. The bill also requires insurers to permit providers to submit claims for reimbursement for up to 180 days after a service is rendered. If a claim is denied, providers must be notified within 30 days and allowed up to 60 days to appeal.