Mo. lawmakers OK bills speeding insurance payments

JEFFERSON CITY, Mo. (AP) -- Missouri lawmakers have approved legislation aimed at speeding up insurance payments to pay hospitals and health care providers.

The House and Senate advanced different versions of the legislation Thursday.

Both versions would penalize insurance companies for failing to pay health care claims within about 45 days. The bills also create timelines for hospitals to supply information and for insurance companies to pay claims.

To become law, the House and Senate must each approve the same version of the legislation.

A report by the state insurance department found more than $500 million in outstanding claims at 69 Missouri hospitals. More than one-fourth of those claims had been unpaid for at least 90 days.