No Fees for EFTs Act

This bill amends the Social Security Act to prohibit health plans from charging health care providers any fees for electronic funds transfers and health care payment and remittance advice transactions. Sec. 2, Prohibiting health plans from imposing fees on health care providers for electronic funds transfers and health care payment and remittance advice transactions: The bill adds a new requirement to existing law that health plans or entities acting on their behalf cannot impose any charge, fee, or other payment (including withholding from payment) on a health care provider for electronic fund transfers and health care payment and remittance advice transactions that occur on or after January 1, 2025.