An additional 6% per annum should be included on overdue balances for workers' compensation medical bills in Virginia.
State |
Virginia |
Late Payment Due Date |
60 days |
Late Payment Percentage |
6 % annually |
|
Virginia Acts of Assembly 2016
Code of Virginia |
§ 65.2-605.1. Prompt payment; limitation on claims
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Statute or Regulation Text |
§ 65.2-605.1. Prompt payment; limitation on claims. C. Payment due for any properly documented health care services that are neither contested within the 45-day period nor paid within the 60-day period, as required by this section, shall be increased by interest at the judgment rate of interest as provided in § 6.2-302 retroactive to the date payment was due under this section. § 6.2-302. Judgment rate of interest. A. The judgment rate of interest shall be an annual rate of six percent, except that a money judgment entered in an action arising from a contract shall carry interest at the rate lawfully charged on such contract, or at 6 % annually, whichever is higher.
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