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New Interest Rate for Medicare Overpayments and Underpayments

Medicare Regulation 42 CFR §405.378 provides for the assessment of interest at the higher of the current value of funds rate (one percent for calendar year 2012) or the private consumer rate as fixed by the Department of the Treasury. The Department of the Treasury has notified the Department of Health and Human Services that the private consumer rate has been changed to 11.00 percent. Hence Medicare contractors shall implement an interest rate of 11.00% effective July 18, 2012- for Medicare overpayments and underpayments.

Reference: http://www.cms.gov/Regulations-and-Guidance/Guidance/Transmittals/Downloads/R211FM.pdf

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