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Archive for the ‘Reminders’ Category

Reminder: Interest on Medicare Overpayments

Posted on: September 7th, 2012 by Michael Freeman

As several of our providers have established extended repayment plans due to SSI adjustments or outlier reconcilliations, we feel it necessary to remind providers how the interest related to the overpayments needs to be treated in the general ledger so that the Medicare Cost Report can be properly prepared.

In accordance with PRM I Section 202.1, interest related to Medicare Overpayments is not allowable.  Hence, if you have incurred such interest it needs to be recorded in a seperate general ledger account so that the amount can be identified during Mediare cost report preparation and maintain an adequate audit trail from the cost report to the trial balance. (more…)

Reminder: Deadline to Change to a 12/31 year end

Posted on: August 26th, 2012 by Michael Freeman

Providers have until September 2, 2012 to change their Medicare Cost Report year end to December 31.  If you wish to change your cost report year end to December 31 and have good cause your intermediary/MAC must receive your request by September 2, 2012.  Typically converting your cost reporting period to a calendar year end constitutes good cause. (more…)