| TO: |
All Providers |
| FROM: |
CareFirst of Maryland, Inc. |
| DATE: |
August 16, 2001 |
| SUBJECT: |
Notice of Interest Rate for Medicare Overpayments and Underpayments |
Medicare Regulation 42 CFR §405.378 provides for the assessment of interest at the higher of the private consumer rate (PCR) or the current value of funds rate (5 percent) for calendar year 2001. The Secretary of the Treasury has notified the Department of Health and Human Services that the PCR has been revised to 13.25 percent. The notice of the PCR was published in the Federal Register (see Vol. 66, No. 152 dated 08/07/01).
Therefore, the PCR will remain in effect until a new rate change is published. In addition, this reaffirms interest rates for prior periods.
INTEREST RATE TABLE
|
Period
|
Interest Rate
|
|
|
|
|
October 24, 1996 - January 22, 1997
|
13.375%
|
|
January 23, 1997 - April 23, 1997
|
13.625%
|
|
April 24, 1997 - July 24, 1997
|
13.50%
|
|
July 25, 1997 - October 23, 1997
|
13.75%
|
|
October 24, 1997 - January 27, 1998
|
13.875%
|
|
January 28, 1998 - May 12, 1998
|
14.50%
|
|
May 13, 1998 - July 30, 1998
|
14.00 %
|
|
July 31, 1998 - October 22, 1998
|
13.75%
|
|
October 23, 1998 - January 31, 1999
|
13.50%
|
|
February 01, 1999 - May 04. 1999
|
13.75%
|
|
May 05, 1999 - August 03, 1999
|
13.375%
|
|
August 04, 1999 - October 27,1999
|
13.25%
|
|
October 28, 1999 - February 1, 2000
|
13.375%
|
| February 2, 2000 - May 2, 2000 |
13.5% |
| May 3, 2000 - July 31, 2000 |
13.75% |
| August 1, 2000 – October 23, 2000 |
13.875% |
| October 24, 2000 – February 6, 2001 |
13.875% |
| February 7, 2001 – April 25, 2001 |
14.125% |
| April 26, 2001 - August 6, 2001 |
13.75% |
| August 7, 2001 |
13.25% |
The effective date for this bulletin is August 7, 2001.
The implementation date for this bulletin is August 7, 2001
| |
