CAQH CORE Releases New Tool to Help Providers Reassociate EFTs with Remittance

CAQH CORE released a new tool to help Providers reassociate electronic funds transfer (EFT) payments with remittance information received on an electronic remittance advice (ERA).  The new tool, a Sample Letter to Request Receipt of NACHA CCD+ Payment-Related Information, can be used by providers receiving EFTs to ensure receipt of the proper payment-related information and help enable successful reassociation of EFTs and ERAs.  The customizeable letter can be sent directly to banks or used as talking points for phone or in-person meetings with bank contacts. 

Because the current HIPAA-mandated standards for EFT and ERA travel separately from the health plan to the Provider, Providers must reassociate the two transactions using a TRN Reassociation Trace Number data segment. The ACA-mandated EFT & ERA Operating Rules include requirements to make EFT and ERA reassociation easier for Providers, however financial institutions do not automatically send the ACH Payment-Related Information to Providers. Providers must request delivery of the ACH Payment-Related Information from their banks.

For more information or additional CAQH CORE resources, visit http://www.caqh.org/CORE_EFT_ERA.php.