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No Fees for Healthcare Electronic Transfers

This new bill aims to prohibit health plans from charging healthcare providers fees for electronic funds transfers and healthcare payment transactions. This means hospitals and doctors will not incur additional costs for receiving payments, potentially reducing administrative burdens within the healthcare system. These changes are set to take effect from January 1, 2024.
Key points
Health plans will be prohibited from imposing fees on healthcare providers for electronic fund transfers.
The ban also covers fees for healthcare payment and remittance advice transactions.
These changes are intended to ease financial burdens on medical facilities, which could indirectly impact service costs for patients.
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Additional Information
No Fees for EFTs Act
Print number: HR 6487
Sponsor: Rep. Murphy, Gregory F. [R-NC-3]
Process start date: 2023-11-28