This bill prohibits health insurance plans from charging fees to doctors and other health care providers for electronic fund transfers and payment transactions processed on or after January 1, 2024. Currently, health plans can impose charges on providers when they transfer payments electronically or send remittance advice (details about claim payments). The legislation aims to reduce costs for health care providers by eliminating these fees, which ultimately could help lower administrative burdens on medical practices. The bill applies to all health plans and includes any entities processing these transactions on a plan's behalf. No specific funding is allocated in the bill, as it primarily restricts fee-charging practices rather than creating new programs.
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