2011 Kentucky Revised Statutes Subtitle 99. Penalties 304.99.123 Penalties for noncompliance with KRS 304.17A-700 to 304.17A-730 and KRS 205.593, 304.14-135, and 304.99-123.
KY Rev Stat § 304.99.123 (1996 through Reg Sess) What's This?
304.99-123 Penalties for noncompliance with KRS 304.17A-700 to 304.17A-730 and
KRS 205.593, 304.14-135, and 304.99-123.
(1)
(2)
In addition to any other penalty or remedy authorized by law, the department may
assess the following fines for noncompliance with KRS 304.17A-700 to 304.17A730 and KRS 205.593, 304.14-135, and 304.99-123:
(a) A fine of one thousand dollars (,000) per day or ten percent (10%) of the
unpaid claim amount, whichever is greater, for each day that a clean claim
remains unpaid in violation of KRS 304.17A-700 to 304.17A-730 and KRS
205.593, 304.14-135, and 304.99-123; and
(b) Except for the late payment of claims under subsection (2) of this section, a
fine of up to ten thousand dollars (,000) where the commissioner
determines that an insurer has willfully and knowingly violated KRS
304.17A-700 to 304.17A-730 and KRS 205.593, 304.14-135, and 304.99-123
or has a pattern of repeated violations of KRS 304.17A-700 to 304.17A-730
and KRS 205.593, 304.14-135, and 304.99-123.
For purposes of paragraph (a) of subsection (1) of this section, an insurer is in
compliance when:
(a) Ninety-five percent (95%) of the clean claims received by the insurer, its
agent, or designee during each calendar quarter, excluding pharmaceutical
claims, were adjudicated within the claims payment timeframes in accordance
with KRS 304.17A-702; and
(b) At least ninety percent (90%) of the total dollar amount for clean claims
received by the insurer, its agent, or designee during each calendar quarter,
excluding pharmaceutical claims, that were not denied or contested, was paid
within the claims payment timeframes established in KRS 304.17A-702.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1659, effective July 15, 2010. -Amended 2002 Ky. Acts ch. 181, sec. 18, effective July 15, 2002. -- Created 2000
Ky. Acts ch. 436, sec. 17, effective July 14, 2000.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
