Notice of New Interest Rate for Medicare Overpayments & Underpayments: 3rd Update for FY 2008

Medicare Regulation 42 CFR §405.378 provides for the assessment of interest at the higher of the current value of funds rate (five percent for calendar year 2008) or the private consumer rate as fixed by the Department of the Treasury. The Department of the Treasury has notified the Department of Health and Human Services that the private consumer rate has been changed to 11.375 percent effective April 18, 2008.