tci Part B Insider - 2009 Issue 16

RED FLAGS RULE: CMS Extends Deadline for Complying With Red Flags Rule

You now have until August 1 to prepare -- but youll need all of that time if you havent started yet. May 1 has come and gone -- and some practices havent yet prepared for the governments Red Flags Rule, which was due to go into effect by then. However, CMS offers a gift to those practices that procrastinated,with a three-month extension,now making the Red Flags Rule effective on Aug. 1. On April 30, the Federal Trade Commission, which oversees the governments implementation of the Red Flags Rule, announced the time extension, and also noted that for...

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