Medicare Advantage Prompt Pay Act

This bill requires Medicare Advantage (MA) plans to pay 95% of complete medical claims within 14 days (for electronic claims) or 30 days (for paper claims) after receipt. If payments are late, MA plans must pay interest at the federal penalty rate and face civil penalties of up to $25,000 per violation. Plans must also publicly report annual data on payment timeliness, including breakdowns for claims under contract versus not under contract with providers. The rules apply to all MA organizations for services provided on or after January 1, 2027.