- Senator Bill Cassidy, MD
U.S. Senate
520 Hart Senate Office Building
Washington, D.C. 20510 - Senator Maria Cantwell
U.S. Senate
511 Hart Senate Office Building
Washington, D.C. 20510
Subject: Support for the No Fees for EFTs Act
Dear Senators Cassidy and Cantwell,
On behalf of the Regulatory Relief Coalition (RRC), a coalition of national physician specialty organizations seeking to reduce regulatory burdens that interfere with patient care, we are pleased to support the No Fees for EFTs Act (S. 3805). The RRC applauds your leadership on this legislation as it would protect consumers from fees charged to their providers for use of more efficient payment processing technology.
The No Fees for EFTs Act would prohibit health plans from imposing fees on health care providers for electronic funds transfers (EFTs) and health care payments and remittance advice transactions. Under the Affordable Care Act, insurance carriers must offer providers the ability to receive reimbursements electronically. However, many insurers partner with third-party vendors that charge between two to five percent per EFT. According to the Medical Group Management Association (MGMA), nearly 60 percent of medical groups report being charged fees they did not agree to by insurers to receive electronic payments.
Click here to read the full AANS and CNS Support Senate Bill Banning Electronic Funds Transfer Fees.
