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July 2, 2024

Prompt Payment Interest Rate for July – December 2024

CGS must pay interest on clean claims not subject to the periodic interim payment (PIP) mechanism if payment is not made within 30 days after the receipt date. The Treasury Department determines the interest rate on a 6-month basis, effective every January and July 1.

Effective July 1, 2024, the interest amount is 4.875%. Current and past interest rate amounts are available on the Treasury DepartmentExternal Website website.

Reference: CMS Medicare Claims Processing Manual (Pub 100-04), chapter 1, §80.2.2External PDF


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