Following a third party liability settlement, award, judgment, or recovery, when can Medicare begin to assess interest on the unpaid balance of Medicares recovery amount?
Medicare requires that a beneficiary or other entity repay Medicare within 60 days of receipt of a demand letter. If it is not received within that timeframe, interest is due. Consistent with the Federal Claims Collection Act (FCCA), if Medicare does not receive a full refund within 60 days of the beneficiary and/or representative being notified by demand letter of Medicare’s claim, interest will be assessed against the unpaid balance. Interest will be calculated retroactive to the date of the mailing of the demand letter.
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