Press Release
February
5, 2003
DISR Releases Notice
Requiring Prompt Payment of Health
Insurance Claims
Health insurers are required to
compensate any person entitled to reimbursement for a
covered service within 30 days after receipt of a claim
that is accompanied by all reasonable and necessary
documentation. If a health insurer fails to timely pay
claims, interest is automatically assessed. Interest is
calculated at a monthly rate of 1 1/2 percent from the 31st
day through the 60th day; 2 percent from the 61st day through
the 120th day; and 2 1/2 percent after the 120th day.
The DC Department of Insurance and Securities Regulation (DISR) has two missions, (1) to provide fair, efficient and fast regulatory supervision of the insurance and securities businesses for the protection of the people of the District of Columbia, and (2) to create conditions that will retain and attract national and international insurance and other financial businesses to the
District.
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