FOR IMMEDIATE RELEASE:
August 13, 2021
Associate Director, Public Affairs
MGMA calls for prohibition on insurers charging EFT fees
In a new MGMA Stat poll, 57% of medical groups report being charged fees by health insurers to accept payment through Electronic Funds Transfer (EFT)—a dramatic increase from the 26% who reported paying these fees only a year ago. The fees charged are typically between 2 and 3 percent of the total reimbursement amount, representing a significant impact to group practices’ bottom lines without any clear value-add.
“Efforts have been underway for a more than a decade to create a more efficient U.S. healthcare system and move away from using paper checks in favor of electronic deposits or EFT. The sad reality is for some health insurers and third-party vendors, it’s simply another way to hinder progress by taking a cut out of what they agree to reimburse physicians. The Centers for Medicare & Medicaid (CMS) was given the authority by Congress in the Affordable Care Act (ACA) to regulate and prohibit insurer fees for EFT transactions. MGMA looks forward to working with the current Administration to promote efficiency in our healthcare system and prohibit predatory business tactics,” said Anders Gilberg, MGMA SVP of Government Affairs.
This week, MGMA wrote CMS Administrator Brooks-LaSure urging the Agency to use its authority under the ACA to prohibit insurers from imposing EFT fees on medical groups.