We will, on Jan. 1, 2017, begin processing our Medicare Advantage electronic payments to providers through the Bank of America, the same bank we use for our commercial providers. This will affect Medicare providers who have opted into electronic fund transfers (EFTs) and 835 electronic remittance advices (ERAs).
As a result, Medicare providers who have opted into electronic payments will:
- Continue to receive payments through PNC for services on or before Dec. 31, 2016. This also means providers who want to access their 835 ERAs for any dates of service in 2016 will need to check PNC Bank's Remittance Advantage.
- Get EFT payments deposited directly to the provider's bank account for any payments of services on or after Jan. 1, 2017. This means providers who want to access 835 ERAs for any dates of service in 2017 will need to check their own clearinghouses for the information.