It is on pages 58 and 59. Here is the problem I see. I will close my accounts and surmise that millions of Americans will also. This will cause a run on the banks and cause many to fail.
For all those Liberal experts on something they have not read, here it is right out of the House Bill.
58
‘‘(C) be comprehensive, efficient and ro2
bust, requiring minimal augmentation by paper
3 transactions or clarification by further commu4
nications;
5 ‘‘(D) enable the real-time (or near real6
time) determination of an individual’s financial
7 responsibility at the point of service and, to the
8 extent possible, prior to service, including
9 whether the individual is eligible for a specific
10 service with a specific physician at a specific fa11
cility, which may include utilization of a ma12
chine-readable health plan beneficiary identi13
fication card;
14 ‘‘(E) enable, where feasible, near real-time
15 adjudication of claims;
16 ‘‘(F) provide for timely acknowledgment,
17 response, and status reporting applicable to any
18 electronic transaction deemed appropriate by
19 the Secretary;
20 ‘‘(G) describe all data elements (such as
21 reason and remark codes) in unambiguous
22 terms, not permit optional fields, require that
23 data elements be either required or conditioned
24 upon set values in other fields, and prohibit ad25
ditional conditions; and
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59
1 ‘‘(H) harmonize all common data elements
2 across administrative and clinical transaction
3 standards.
4 ‘‘(3) TIME FOR ADOPTION.—Not later than 2
5 years after the date of implementation of the X12
6 Version 5010 transaction standards implemented
7 under this part, the Secretary shall adopt standards
8 under this section.
9 ‘‘(4) REQUIREMENTS FOR SPECIFIC STAND10
ARDS.—The standards under this section shall be
11 developed, adopted and enforced so as to—
12 ‘‘(A) clarify, refine, complete, and expand,
13 as needed, the standards required under section
14 1173;
15 ‘‘(B) require paper versions of standard16
ized transactions to comply with the same
17 standards as to data content such that a fully
18 compliant, equivalent electronic transaction can
19 be populated from the data from a paper
20 version;
21 ‘‘(C) enable electronic funds transfers, in
22 order to allow automated reconciliation with the
23 related health care payment and remittance ad24
vice;
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