Bill 118 s 3805, also known as the "Electronic Funds Transfer Fee Prohibition Act," aims to make changes to title XI of the Social Security Act in order to prevent health plans from charging fees to health care providers for electronic funds transfers and health care payment and remittance advice transactions. The bill seeks to promote efficiency and cost savings in the health care system by eliminating unnecessary fees that can be a burden on providers.
If passed, this legislation would ensure that health plans are not able to impose fees on providers for electronic transactions, which are becoming increasingly common in the health care industry. By prohibiting these fees, the bill aims to encourage the use of electronic funds transfers and streamline the payment process for health care services.
Overall, the Electronic Funds Transfer Fee Prohibition Act is designed to protect health care providers from unnecessary financial burdens and promote the use of electronic transactions in the health care system. This bill is an important step towards improving efficiency and reducing costs in the delivery of health care services.