Sec. 1. 24-A MRSA §2436, sub-§3, as amended by PL 2003, c. 218, §4, is further amended to read:

3. If an insurer fails to pay an undisputed claim or any undisputed part of the claim when due, the amount of the overdue claim or part of the claim bears interest at the rate of 1 1/2% per month after the due date. Notwithstanding this subsection, the superintendent may adopt rules that establish a minimum amount of interest payable on an overdue undisputed claim to a health care provider before a payment must be issued. Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A; however, an insurer is not required to pay interest on a claim unless the amount of interest is at least $2.

SUMMARY

This bill establishes a minimum dollar amount of interest payable to health care providers under the Maine Revised Statutes, Title 24-A, section 2436 before interest payments must be sent.