With November 1 just around the corner, I thought it was a good idea to remind everyone that the Red Flags Rule deadline is November 1 (although since that falls on a Sunday, it is effectively November 2). This deadline has not yet been extended (as of the moment I posted this).
Earlier this week I mentioned legislation that had been passed by the House of Representatives in response to the "overreaching" by the FTC. According to this article, that legislation has stalled in the Senate. This legislation would have only exempted out entities with fewer than twenty employees, which would not have helped most home health or hospice providers. However, the legislation did create an "opt out" avenue that would have allowed certain businesses to petition for an exemption. The article speculates that the FTC might extend the deadline to give the Senate a chance to act, but that is not at all certain.
It appears that by the time this legislation passes, the compliance deadline will have passed. At that point, most providers will probably not bother considering whether to apply for an exemption, because they will have already put their policies and procedures into place.
If you haven't started your red flags compliance effort yet, now is a really good time to start implementing policies and procedures.
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