This bill proposes the addition of a new section, designated 9-5-34, to the Code of West Virginia, specifically addressing the assessment of interest on overpayments made to programs administered by the Bureau for Medical Services. It establishes that all overpayments will accrue interest at a rate determined by existing law (specifically, 56-6-31(b)). The term "overpayment" is defined as any amount paid that exceeds what is allowable for the goods or services provided under the bureau's programs.

The bill outlines the method for calculating interest on these overpayments, stating that interest will be calculated annually from the date an overpayment determination is finalized until the balance, including accrued interest, is resolved. Additionally, it specifies that any interest collected on these overpayments will be retained by the fund from which the overpayment originated. This legislative change aims to ensure that overpayments are handled fairly and transparently, providing a clear framework for interest accrual.

Statutes affected:
Introduced Version: 9-5-34
Engrossed Version: 9-5-34