MCC 8011 represents transactions made with doctors and physicians not specifically classified under other MCC codes. It covers a wide range of medical services provided by independent healthcare practitioners.
Interchange Fee
Interchange fees for MCC 8011 vary based on card type (e.g., debit or credit) and issuing bank, typically ranging from 1.3% to 2.9% per transaction. Healthcare services may be subject to specific negotiated rates with payment processors.
Cashback Rewards
Many credit card issuers exclude or limit cashback rewards for healthcare-related transactions. It is advisable to consult with specific issuers for detailed terms on potential cashback eligibility under MCC 8011.
Rules and Restrictions
There are no special rules imposed by payment processors specifically for MCC 8011. However, insurance coverage policies and healthcare regulations may influence payment processing and acceptance.
Tax Reporting
The IRS does not apply taxes to buyers for payments made under MCC 8011. However, healthcare services may be deductible or covered by health savings accounts, subject to IRS guidelines and eligibility.