WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA) and Maria Cantwell (D-WA) introduced the No Fees for EFTs Act to protect patients and health care providers against fees imposed by electronic fund transfers (EFTs) and payment transactions. Currently, the Affordable Care Act requires health plans to offer medical practices the option to receive reimbursements electronically. However, insurers impose charges between 2-5% on health care providers for EFTs.
“As a doctor who worked in hospitals for the underinsured and uninsured, I understand the burden unnecessary fees can have on patients and the health care system,” said Dr. Cassidy. “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.”
“This bill would block insurance companies from charging exorbitant transaction fees that are shortchanging reimbursement payments and burdening health care workers,” said Senator 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.”
Companion legislation was introduced in the U.S. House of Representatives by U.S. Representatives Greg Murphy (R-NC-03), Kim Schrier (D-WA-08), Marianette Miller-Meeks (R-IA-01), Derek Kilmer (D-WA-06), and Ami Bera (D-CA-06).
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