Iowa Code 249A.41 – Overpayment — interest
Current as of: 2024 | Check for updates
|
Other versions
1. Interest may be collected upon any overpayment determined to have been made and shall accrue at the rate and in the manner specified in this section.
Terms Used In Iowa Code 249A.41
- Director: means the director of health and human services. See Iowa Code 249A.2
- overpayment: includes such funds for which the provider's administrative and judicial review remedies under Iowa Code 249A.2
- Provider: means an individual, firm, corporation, association, or institution which is providing or has been approved to provide medical assistance to recipients under this chapter. See Iowa Code 249A.2
2. Prior to the provision of a notice of overpayment to the provider, interest shall accrue at the statutory rate for prejudgment interest applicable in civil actions.
3. After the provision of a notice of overpayment to the provider and after all of the provider’s administrative and judicial review remedies under 441 IAC ch. 7 and chapter 17A have been exhausted, interest shall accrue at the statutory rate for prejudgment interest applicable in civil actions plus five percent per annum, or the maximum legal rate, whichever is lower.
4. At the discretion of the director, interest on an overpayment may be waived in whole or in part when the department determines the imposition of interest would produce an unjust result, would unduly burden the provider, or would substantially delay the prompt and efficient resolution of an outstanding audit or investigation.