|
February 5, 2003
DISR Releases Notice Requiring Prompt Payment of Health Insurance Claims
Health insurers are required to compensate any person entitled to reimbursement for a covered service within 30 days after receipt of a claim that is accompanied by all reasonable and necessary documentation. If a health insurer fails to timely pay claims, interest is automatically assessed. Interest is calculated at a monthly rate of 1 1/2 percent from the 31st day through the 60th day; 2 percent from the 61st day through the 120th day; and 2 1/2 percent after the 120th day.
The DC Department of Insurance and Securities Regulation (DISR) has two missions, (1) to provide fair, efficient and fast regulatory supervision of the insurance and securities businesses for the protection of the people of the District of Columbia, and (2) to create conditions that will retain and attract national and international insurance and other financial businesses to the District. | 
