Regulates the use of virtual credit cards by insurers and health care plans.
Prohibits insurers and health care plans from charging fees for using virtual credit cards unless certain conditions are met. Insurers must notify providers of potential fees, offer an alternative payment method, and allow the provider to choose the payment method. If a provider does not choose a payment method within 30 days, the insurer must use the alternative payment method. The bill also mandates that insurers and health care plans cannot waive these notice requirements in contracts.
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