Notice of Interest Rate on Overdue Debts
Section 30.13 of the Department of Health and Human Services’ claims collection regulations (45 CFR Part 30) provides that the Secretary shall charge an annual rate of interest as fixed by the Secretary of the Treasury after taking into consideration private consumer rates of interest prevailing on the date that HHS becomes entitled to recovery. The rate generally cannot be lower than the Department of Treasury's current value of funds rate or the applicable rate determined from the “Schedule of Certified Interest Rates with Range of Maturities.” This rate may be revised quarterly by the Secretary of the Treasury and shall be published quarterly by the Department of Health and Human Services in the Federal Register.
The Secretary of the Treasury has certified a rate of 121/2% for the quarter ended December 31, 2006. This interest rate will remain in effect until such time as the Secretary of the Treasury notifies HHS of any change.Dated: January 30, 2007. Jean Augustine, Director, Office of Financial Policy and Reporting.