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Select the correct statement regarding the transaction rule.
Suggested Answer: B
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35 comments · newest first
WI
Wilda
11 months ago
Totally agree with D, non-standard transactions can be converted.
CH
Cheryll
11 months ago
E sounds fishy, why would state Medicaid be different?
DA
Daron
11 months ago
Wait, are ERISA plans really exempt? That seems off.
SH
Shannon
11 months ago
I think C is the right one, data must meet standards for direct submissions.
ED
Edmond
12 months ago
A is definitely true, electronic transactions are covered.
DE
Della
12 months ago
I feel like I read that covered entities can submit non-standard transactions, but I’m confused about the storage requirements. Is it D or something else?
LA
Lashaun
1 year ago
I practiced a question similar to this where it mentioned data storage requirements for covered entities. I think option C might be correct.
MA
Maryanne
1 year ago
I remember something about ERISA plans being exempt, but I can't recall the specifics. It feels like a tricky area.
TY
Ty
1 year ago
I think the transaction standards definitely apply to electronic transactions, but I'm not sure if that's the only thing they cover.
XO
Xochitl
1 year ago
I'm not sure about the State Medicaid program requirement, so I'll skip that one and focus on the other options.
WE
Wenona
1 year ago
Ah, I see now. A covered entity can submit non-standard transactions to a clearinghouse, but they still need to store their data in standard formats. That makes sense, so I'll go with option D.
MI
Misty
1 year ago
Okay, I think I understand the key point - the data stored by a covered entity needs to meet the transaction standards if they're directly submitting standard transactions. I'll select option C.
ZA
Zana
1 year ago
Hmm, I'm a bit confused about the ERISA plan exemption. I'll need to double-check that one.
BR
Brandon
1 year ago
I'm pretty sure the transaction standards apply to electronic transactions, so I'll go with option A.
GE
Geraldine
1 year ago
The key here is to focus on the specific details of the transaction standards. I remember that covered entities can use a clearinghouse to convert non-standard transactions, but they still need to store their data in standard formats. So I think the correct answer is D.
SH
Shaun
1 year ago
I'm a little confused by this question. I know the transaction standards apply to electronic transactions, but I'm not sure about the other details. I'll need to review my notes and try to eliminate the wrong answers.
IS
Isidra
1 year ago
Okay, let's see. I remember that ERISA plans are exempt, so B is not correct. And the data stored by a covered entity needs to meet the standards if they are directly submitting transactions, so C is correct. I'll go with C.
MA
Madelyn
1 year ago
Hmm, I'm a bit unsure about this. I know the standards apply to electronic transactions, but I'm not sure about the other options. I'll need to think this through carefully.
HE
Helene
1 year ago
I'm pretty confident about this one. The transaction standards apply to electronic transactions, so I think the correct answer is A.
WI
Willetta
1 year ago
I'm going with B. ERISA plans are exempted from the standard, so they can do whatever they want, right? Wait, what's an ERISA plan again?
ME
Merissa
1 year ago
Ha! Option E is clearly a trick question. Of course state Medicaid programs need to meet the same requirements as private health plans. They're not some special snowflake.
AJ
Aja
1 year ago
D) A covered entity (e.g. provider, health plan) may submit non-standard transactions to a clearinghouse that converts them into standard transactions. In this case the covered entity still needs to store its data in transaction standard formats.
DI
Dick
1 year ago
C) Data stored by a covered entity must meet the transaction standards if the covered entity is directly submitting standard transactions.
OR
Orville
1 year ago
A) The Transaction standards apply to electronic transactions.
LE
Lezlie
2 years ago
Option D seems the most reasonable to me. A covered entity can submit non-standard transactions to a clearinghouse, but the covered entity still needs to store its data in transaction standard formats.
AL
Alecia
1 year ago
Yes, it helps streamline the process for all parties involved.
SH
Sherita
1 year ago
Clearinghouses play a key role in ensuring data is standardized.
AP
Apolonia
1 year ago
It's important for data consistency. Non-standard transactions can still be converted.
CY
Cyndy
1 year ago
I agree, option D makes sense. The covered entity still has to store data in standard formats.
LI
Lindy
2 years ago
I think option C is the correct answer. The data stored by a covered entity must meet the transaction standards if the covered entity is directly submitting standard transactions.
TA
Taryn
1 year ago
Yes, that makes sense. The data must meet the transaction standards for direct submissions.
DE
Detra
1 year ago
I agree, option C is the correct answer.
LO
Louann
2 years ago
I believe option D is also correct, as covered entities can still submit non-standard transactions through a clearinghouse.
HU
Huey
2 years ago
I agree with Nadine, because data must meet transaction standards if directly submitting.
NA
Nadine
2 years ago
I think the correct statement is C.