December 22, 2023

Mark your calendar: Jan. 4 reimbursement, coverage fairness townhall The AOA invites the entire optometric profession to attend an important townhall discussion on reimbursement and coverage fairness in a webinar format on Thursday, Jan. 4, 2024. What: AOA Profession Wide Townhall on Reimbursement and Coverage Fairness When: 9 p.m. ET, Thursday, Jan. 4, 2024. Register here to attend this Zoom webinar. After registering, you will receive a confirmation email with information about joining this webinar. Tens of millions of Americans rely on their local doctors of optometry for their comprehensive eye health and vision care needs, and even despite historic advancements in optometry’s scope and level of care provided, plans haven’t sufficiently advanced alongside the profession. As the AOA and affiliates continue to advocate for an equitable system that fairly values optometric care, the profession is invited to attend this dynamic townhall for an update on state and national efforts to rebalance the power between doctors and vision plans. We need the support of all doctors of optometry in this effort. Read more on recently passed state legislation and the federal Dental and Optometric Care Access Act bill.

THANK YOU TO OUR NOVEMBER ALOPAC CONTRIBUTORS!

New Federal Transparency Act Starting Jan. 1, an estimated 30 million U.S. companies—including optometric practices—will be required to report to the federal government who owns and controls them.  Officially called Beneficial Ownership Information, under the 2021 Corporate Transparency Act (CTA), the collected particulars will be used by the U.S. Treasury Department’s Financial Crimes Enforcement Network to thwart “bad actors” seeking to obscure “their ill-gotten gains through shell companies or other opaque ownership structures” to conduct such illegal activities as money laundering, tax evasion and trafficking with impunity.  The AOA Center for Independent Practice (CIP) has created three detailed members-only resources to help practices comply with the new law including:   A brief Explainer of the new law. A Compliance Guide.  Frequently Asked Questions for members subject to this reporting burden.  Who should report? All practices that are corporations, limited liability companies (LLCs), limited partnerships or other entities—created by filing documents with the secretary of state or similar entity in a practice’s state—are required to report under the CTA, according to the CIP.  There are some exemptions, but not a broad exemption for all optometric practices—a situation that the AOA is seeking to remedy. Willful violations of the law can result in civil and criminal penalties. Concurrently, the AOA continues to work with other health care provider organizations and associations of small and independent businesses to exempt or otherwise relieve the burden on health care practices.

PO Box 240907 • Montgomery, AL 36124-0907 ©2018 Alabama Optometric Association

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