N.Y. Public Health Law 3614-E – Electronic payment of claims
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§ 3614-e. Electronic payment of claims. The payment of claims submitted under contracts or agreements with insurers under the medical assistance program for home and community-based long-term care services provided under this article, by fiscal intermediaries operating pursuant to § 365-f of the social services law, and by residential health care facilities operating pursuant to article twenty-eight of this chapter shall be paid via electronic funds transfer. Such insurers shall include but not be limited to Medicaid managed care plans and managed long-term care plans.
Terms Used In N.Y. Public Health Law 3614-E
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC