Mich. Comp. Laws § 550.1403. Payment of benefits; interest; claim form; exception: The Nonprofit Health Care Corporation Reform Act – Michigan
Status: EnactedYear Enacted: 1980
Year Amended: 2002
File: Download
A health care corporation, on a timely basis, shall pay to a member benefits as are entitled and provided under the applicable certificate. When not paid on a timely basis, benefits payable to a member shall bear simple interest from a date 60 days after a satisfactory claim form was received by the health care corporation, at a rate of 12% interest per annum.
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