New Legislation Introduced to Prohibit Insurers from Imposing Fees for Electronic Payments | Heart Rhythm Society

New Legislation Introduced to Prohibit Insurers from Imposing Fees for Electronic Payments

New legislation, the No Fees for EFTs Act (H.R.6487), was recently introduced to prohibit health plans from imposing fees on physicians and hospitals for standard electronic funds transfer (EFT) payments.

Legislative Updates

Currently, private insurers including Medicare Advantage plans, automatically charge a percentage-based fee to receive reimbursement for furnishing health care services. The No Fees for EFTs Act would eliminate this issue by prohibiting health plans from imposing such fees. This bill is particularly important as physicians are faced with payment cuts every year. Eliminating these fees will enable health care providers to invest more time and funds in resources to improve patient access to care.