To amend title XI of the Social Security Act to prohibit health plans from imposing fees on health care providers for electronic funds transfers and health care payment and remittance advice transactions, and for other purposes.
About This Bill
Committee
Latest Action · February 27, 2024
Read twice and referred to the Committee on Finance.
The No Fees for EFTs Act would prohibit health insurance plans from charging doctors, hospitals, and other healthcare providers any fees for electronic fund transfers and payment transactions starting January 1, 2025. Currently, health plans can impose charges on providers when they send payments electronically or provide remittance advice, which are documents explaining what insurance is covering and what patients owe. This bill would eliminate those fees entirely, preventing plans from charging directly or indirectly through payment withholding. The legislation amends federal healthcare regulations under the Social Security Act and was introduced in February 2024 with bipartisan support. The bill does not contain specific funding amounts since it works by restricting what health plans can charge rather than appropriating new federal spending.
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