Eli's Hospice Insider

Published on Tue Apr 21, 2009 PDF

You now have until Aug. 1 to prepare, but you'll need all of that time if you haven't started yet.

May 1 has come and gone -- and some providers haven't yet prepared for the government's Red Flags Rule, which was due to go into effect by then. However, the feds have offered a gift -- a three-month extension --to hospice and other providers that have procrastinated.

On April 30, the Federal Trade Commission (FTC), which oversees the government's implementation of the Red Flags Rule, announced the deadline extension.

"The Federal Trade Commission will delay enforcement of the new 'Red Flags Rule' until August 1, 2009, to give creditors and financial institutions more time to develop and implement written identity theft prevention programs," the FTC said in a prepared statement.

Helping hand: The FTC will also give some guidance that you may find helpful. "For entities that have a low risk of identity theft, such as businesses that know their customers personally, the FTC will soon release a template to help them comply with the law," it added.

(For an overview of what hospices can do to comply with the red flags rule and related laws and requirements, see Eli's Hospice Insider, Vol. 2, No. 3 available in the Online Subscription System. If you haven't yet signed up for this free service, call customer services at 1-800-874-9180.)