New York A09510 amends laws to regulate the use of virtual credit cards by insurers and health care plans.

New York A09510 amends the insurance law and public health law to regulate the use of virtual credit cards by insurers and certain health care plans. Insurers and health care plans may pay claims using credit cards, virtual credit cards, or electronic funds transfers only if they notify providers of potential fees, offer an alternative payment method without fees, and the provider consents. Providers must elect a payment type within 30 days. Contracts cannot waive these notice requirements. The changes apply to contracts in effect or entered into after the law's effective date.

New York A09510 amends laws to regulate the use of virtual credit cards by insurers and health care plans.

New York A09510 amends the insurance law and public health law to regulate the use of virtual credit cards by insurers and certain health care plans. Insurers and health care plans may pay claims using credit cards, virtual credit cards, or electronic funds transfers only if they notify providers of potential fees, offer an alternative payment method without fees, and the provider consents. Providers must elect a payment type within 30 days. Contracts cannot waive these notice requirements. The changes apply to contracts in effect or entered into after the law's effective date.