Section 2166. Prompt Payment of Claims.--(a) An insurer shall pay a clean claim submitted by a health care provider or covered person within forty-five (45) days of receipt of the clean claim.
(a.1) An MA or CHIP managed care plan shall pay a clean claim submitted by a health care provider within forty-five (45) days of receipt of the clean claim.
(b) If an insurer fails to remit the payment as provided under subsection (a), interest at ten per centum (10%) per annum shall be added to the amount owed on the clean claim. Interest shall be calculated beginning the day after the required payment date and ending on the date the claim is paid. The insurer shall not be required to pay any interest calculated to be less than two ($2) dollars.
(2166 amended Nov. 3, 2022, P.L.2068, No.146)