Health plans would not be allowed to charge healthcare providers fees for electronic fund transfers (EFTs) and healthcare payment and remittance advice transactions under a bipartisan bill sponsored on Feb. 27 by U.S. Sen. Bill Cassidy (R-LA).
“As a doctor who worked in hospitals for the under-insured and uninsured, I understand the burden unnecessary fees can have on patients and the health care system,” Sen. Cassidy said on Tuesday. “The only thing doctors and patients should be focused on is providing and receiving the best care, not worrying about added costs associated with electronic payment methods.”
Sen. Cassidy introduced the No Fees for EFTs Act, S. 3805, alongside original cosponsor U.S. Sen. Maria Cantwell (D-WA).
Currently, the Affordable Care Act requires health plans to offer medical practices the option to receive reimbursements electronically. However, insurers impose charges between 2 percent and 5 percent on healthcare providers for EFTs, according to a bill summary provided by Sen. Cassidy’s staff.
“This bill would block insurance companies from charging exorbitant transaction fees that are shortchanging reimbursement payments and burdening healthcare workers,” said Sen. Cantwell. “Too many Washingtonians are already struggling with expensive health care without these unnecessary fees further driving up costs for providers and, ultimately, for patients too.”
S. 3805 is the companion bill to the same-named H.R. 6487 introduced in November 2023 by U.S. Reps. Greg Murphy (R-NC) and Derek Kilmer (D-WA).