New York S08817 amends insurance law and public health law to regulate the use of virtual credit cards by insurers and health care plans.

New York S08817 amends the insurance law and public health law to regulate the use of virtual credit cards by insurers and health care plans. It specifies that insurers and health care plans may use credit cards, virtual credit cards, or electronic funds transfer payment methods for reimbursements, but only if certain conditions are met. These conditions include notifying providers of potential fees, offering an alternative payment method without fees, and obtaining the provider's consent to use the specified payment method.

New York S08817 amends insurance law and public health law to regulate the use of virtual credit cards by insurers and health care plans.

New York S08817 amends the insurance law and public health law to regulate the use of virtual credit cards by insurers and health care plans. It specifies that insurers and health care plans may use credit cards, virtual credit cards, or electronic funds transfer payment methods for reimbursements, but only if certain conditions are met. These conditions include notifying providers of potential fees, offering an alternative payment method without fees, and obtaining the provider's consent to use the specified payment method.