CMS released guidance March 22 regarding health plans' payment of health care claims using virtual credit cards (VCCs) and adopted HIPAA standards for healthcare electronic funds transfers (EFT) and remittance advice (ERA) transactions.
Three things to know:
1. Adopted HIPAA EFT and ERA standards allow health plans to pay claims by VCC.
2. Health plans must pay claims using EFT or ERA transaction standards if the provider requests.
3. A health plan cannot require a provider tp agree to work with the plan's selected business associate as a condition of receiving health care payments using the adopted EFT and ERA standards.