Effective 1-1-2023.
Sec. 6. (a) A payor shall pay or deny each clean claim as follows:
(1) If the claim is filed electronically, not more than thirty (30) days after the date the claim is received by the payor.
(2) If the claim is filed on paper, not more than forty-five (45) days after the date the claim is received by the payor.
(b) If:
(1) a payor fails to pay or deny a clean claim in the time required under subsection (a); and
(2) the payor subsequently pays the claim;
the payor shall pay the medical service provider that submitted the claim interest on the amount of the payor's pecuniary liability under IC 22-3-2 through IC 22-3-7 for the claim paid under this section.
(c) Interest paid under subsection (b):
(1) accrues beginning:
(A) thirty-one (31) days after the date the claim is received under subsection (a)(1); or
(B) forty-six (46) days after the date the claim is received under subsection (a)(2); and
(2) stops accruing on the date the claim is paid.
(d) In paying interest under subsection (b), a payor shall use the same interest rate as provided in IC 12-15-21-3(7)(A).
As added by P.L.160-2022, SEC.10.