Author Topic: charging workers comp (interest) for late payments  (Read 957 times)

thelakeshow2k

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charging workers comp (interest) for late payments
« on: February 01, 2010, 09:52:32 PM »
i heard we can legally charge interest starting day 46 for late payment.  one thing i noticed is that some carriers say they haven't received the claim so we can't charge them interest.  does anyone have this problem?  if so, do you call carriers 1-2 weeks after mailing a claim, then document it so you can start the 45 day grace period?

Steve Verno CMBS, CEMCS

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Re: charging workers comp (interest) for late payments
« Reply #1 on: February 02, 2010, 05:41:56 AM »
NEVER do anything based on what you heard.  Base what you do on documentaion youve seen,

What you heard may be a violation of State Workers Copensation Law 

Never got the claim is a stall tactic.  If you have more than one claim that goes to an insurance company, send them by Certified Mail/Return Receipt.  Include a coversheet showing the names of patients.  Here, State law allows interest, but YOU have to prove the insurance company got the claim.  My state law specifies we have to show, through Certified Mail/Return Receipt.  Now, if yur State law allows interest, good luck collecting it.  You may have to go to court to collect it but expect a fight. 
Our State regulatory agencies do not involve theselves with interest and collecting it.

Ive sent claims by certified mail/return receipt and Ive had the insurance company deny receipt of the claims. Theyve gone so far as to ask me to fax them the claim and not file complaints with the office of insurance regulation. 

I have 2 philosphies:

1.  Never deal with the monkey, deal with the orgn grinder
   I resend NOF claims to the insurace copany President/CEO and nt he claims departent.

2  Never give up and never surrender
I file gievnces with the regulatry agency an a copy goes to he Presient/CEO

Usually the insurance company calls saying they are insuted but I dont care.  What  want to see are checks

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Trisha

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Re: charging workers comp (interest) for late payments
« Reply #2 on: April 14, 2010, 10:05:42 PM »
I deal with a lot of wc claims, what I have done with carriers allowing a fax is to print a confirmation and save it as proof of timely filing/ receipt of claim, if it has been faxed twice I report them tho The State Department of Insurance.  I also call the carrier to let them know we have filed and let them sweat it out.