NAC439B.340. Determination of annual rate of interest on unpaid balance of total billed charge; effect of delinquent account; sale, assignment or transfer of right to balance due on account.

     1. If a major hospital charges interest on the unpaid balance of the total billed charge of a patient, the annual rate of interest must be based on the balance due after any reductions or discounts. The interest rate must not exceed the statutory interest rate in effect on the date that the arrangement for payment is agreed upon.

     2. If the account of a patient becomes delinquent by 30 days or more:

     (a) Upon the first and second occurrences, the hospital shall provide written notice of the delinquency to the patient. If the delinquency is not cured within 10 days after the patient receives the notice, the hospital may revoke any discount that was provided to the patient and seek to accelerate payment on the account.

     (b) Upon the third and subsequent occurrences, the hospital may revoke the discount and seek to accelerate payment without allowing the patient 10 days to cure the delinquency.

     3. The sale, assignment or transfer of the right to the uncollected amount of the balance due on the account of a patient with a major hospital is subject to the terms and conditions of any agreement between the hospital and the patient. Any such sale, assignment or transfer is also subject to the provisions of subsection 2.

     (Added to NAC by Dep’t of Human Resources, eff. 8-1-94)