Kan. Admin. Regs. § 129-5-19

Current through Register Vol. 43, No. 24, June 13, 2024

Section 129-5-19 - Interest on unpaid claims

(a) The principal amount due on which the interest payment shall be calculated shall be the allowed amount due but unpaid at the contracted rate for the service. All interest due under the act shall be applied only to the principal amount due as specified in this subsection and not to any unpaid interest. Interest calculated under the act shall not be compounded.

(b) Each managed care organization shall keep accurate and sufficient records for each interest payment and its corresponding claim documentation and shall provide a detailed report to the state upon request.

Authorized by and implementing K.S.A. 2014 Supp. 39-709f and 75-7403; adopted by Kansas Register Volume 34, No. 33; effective 8/28/2015.