Q&A For Retro Interest Payments
for HealthChoice Providers, the Department of Rehabilitation Services, and the Department of Corrections

Q: What claims will be considered for retro interest payments?
A: EDS began calculating and paying interest on April 8, 2009. Any claim paid before April 8, 2009, will be considered for a potential retro interest payment.

Q: Which claims will have retro interest paid?
A: In accordance with Oklahoma state statutes, any claim paid more than 45 calendar days after the claim was received will be paid interest.

Q: How is interest calculated?
A: Interest is paid at a 10% annual rate, compounded daily. This means that the daily rate of interest is .0002740%. We will take the number of days over 45 days, multiply it by the daily rate, and then multiply it by the paid amount.
For example, if the claim is paid at $150.00 and the claim took 60 days to pay, multiply 15 days (the number of days over 45) times .0002740% which gives you .00411%. Multiplying 00411%by the paid amount ($150) equals 62 cents interest due. The equation is as follows:
.0002740 x 15 = .00411
.00411 x $150 = 0.6165 (.62)

Q: When will retro interest payments be issued?
A: Retro interest payments are currently being issued.

Q: Who do I call with questions about my interest payments?
A: If you have questions relating to retro interest, you may contact EDS Administrative Services at 1-405-416-1780 or toll-free1-800-782-5218.

Q: Who do I call if I do not receive retro interest payments and I believe I am due interest?
A: If you did not receive a retro interest payment and you feel your claims meet the criteria for interest, please contact EDS Administrative Services at 1-405-416-1780 or 1-800-782-5218 toll-free.

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