Author Topic: Charging Interest  (Read 686 times)

rdmoore2003

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Charging Interest
« on: January 27, 2017, 11:35:11 AM »
Does anyone know how much interest can be charged on delinquent medical bills?
Regina

Michele

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Re: Charging Interest
« Reply #1 on: January 28, 2017, 03:37:37 PM »
I am not a legal expert but I believe that the provider just needs to have notified the patient prior to the bill of what the interest rate is.  For example, they must have a policy such as "a 2% interest fee will be added to any balances over 30 days" or something like that.  The policy needs to be made available to the patient prior to them incurring the bill.  The provider can't say after the fact that they are going to charge interest because the bill wasn't paid.

Again, I am not a legal expert so I'm hoping someone else will chime in!
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PMRNC

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Re: Charging Interest
« Reply #2 on: January 28, 2017, 07:48:45 PM »
The state's determine the max amount and how to charge interest.
Linda Walker
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dekenn

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Re: Charging Interest
« Reply #3 on: January 30, 2017, 11:23:38 AM »
Linda, I know you do business in NJ, how do I find out the details? Thanks

rdmoore2003

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Re: Charging Interest
« Reply #4 on: January 31, 2017, 04:18:36 PM »
I am not sure where to look for Louisiana.  I know some dr's offices are charging the interest fee already.  I want documentation in our state before I even think about charging this.
Regina

Michele

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Re: Charging Interest
« Reply #5 on: January 31, 2017, 07:07:29 PM »
I am not sure where you get that information.  When I google it I come up with LA has a state maximum of 12%.  If possible I would ask some of the office's that are already charging interest if they have any documentation on what can be charged.  Or check with your accountant.  They may be able to at least point you to the right area.

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