CMS issues guidance on virtual credit cards, transaction fees

The Centers for Medicare & Medicaid Services recently issued several Health Insurance Portability and Accountability Act FAQs on virtual credit cards and electronic fund transfer fees. According to the FAQs, a health plan cannot require a provider to accept virtual credit card payments. A provider has the right to request that a health plan use the adopted standard Electronic Funds Transfer transaction instead, for which the health plan is not permitted to charge the provider fees, the agency said.