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Posted by TriSec in General Discussion (01/01/06 through 01/22/2007)
Fri Sep 01st 2006, 08:18 AM
I just received the following message from Proxymed, an electronic claim clearinghouse. So, apparently the Administration is resorting to Klingon Math in order to "reduce deficits"?

It appears to me that they are "floating a check" by the way I read this. So is it official? The United States can't cover a Medicare payment?


Deficit Reduction Act of 2005 - 9-Day Payment Hold

This message is a reminder for all providers and physicians who bill Medicare contractors for their services.

A brief hold will be placed on Medicare payments for all claims during the last 9 days of the Federal fiscal year (September 22 through September 30, 2006). These payment delays are mandated by section 5203 of the Deficit Reduction Act of 2005. Under the Healthcare Integrated General Ledger

Accounting System (HIGLAS), Medicare contractors will continue to receive and process all claims during this timeframe, however payments due and remittances for these payments will be temporarily held.

No interest will be accrued and no late penalties will be paid to an entity or individual by reason of this one-time hold on payments. All claims held during this time will be paid on October 2, 2006.
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