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NY A03986
Bill
Status
12/19/2025
Primary Sponsor
Alex Bores
Click for details
AI Summary
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Requires insurers, health corporations, and health care plans to notify healthcare providers of any fees associated with credit card, virtual credit card, or electronic funds transfer payment methods before using them for claim reimbursements
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Mandates that insurers offer providers an alternative fee-free payment method, and providers must affirmatively elect to accept payment methods that impose processing fees
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Defines "virtual credit card" as a single-use series of numbers linked to a fixed dollar amount provided by an insurer to pay a provider's claim for health care services
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Prohibits insurers from charging transmission fees for electronic funds transfers unless the provider consents, and bars contracts from containing waivers of the notice requirements
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Requires vendors contracted to process provider claims to comply with the same notification and alternative payment requirements as insurers; takes effect 180 days after becoming law
Legislative Description
Authorizes an insurer to pay a claim for reimbursement made by a provider using a credit card, virtual credit card or electronic funds transfer payment method that imposes on the provider a free or similar charge to process the payment; defines "virtual credit card" as a single-use series of numbers linked to a fixed dollar amount and provided by an insurer to a provider for the purpose of paying a claim for health care services performed by the provider; makes related provisions.
Last Action
approval memo.31
12/19/2025