Author Topic: Medicare EFT?  (Read 1656 times)

Christy

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Medicare EFT?
« on: June 23, 2014, 01:19:22 PM »
Does Medicare REQUIRE providers to accept direct deposits (EFT.) Will they still mail paper checks?

thanks!

shanbull

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Re: Medicare EFT?
« Reply #1 on: June 23, 2014, 01:41:11 PM »
This is what my MAC says on their EDI page:

Quote
Existing regulations at 42 CFR 424.510(e)(1)(2) require that at the time of enrollment, enrollment change request or revalidation, providers and suppliers that expect to receive payment from Medicare for services provided must also agree to receive Medicare payments through electronic funds transfer (EFT). Section 1104 of the Affordable Care Act (ACA) further expands Section 1862 (a) of the Social Security Act by mandating federal payments to providers and suppliers only by electronic means.

So the answer is yes, they require EFT. There may be limited exceptions but I'm not finding any so far.


Edit: I did find the one exception. The only way Medicare pays via paper check is to providers who enrolled prior to March 25, 2011 and have not yet re-validated. Any provider who enrolled after that date or who has completed mandatory re-validation is required to submit the EFT signup form:
http://www.acatoday.org/content_css.cfm?CID=4441
« Last Edit: June 23, 2014, 01:52:51 PM by shanbull »

Christy

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Re: Medicare EFT?
« Reply #2 on: June 23, 2014, 04:21:41 PM »
thanks, Shanbull!