Starting April 10, the Department of Health and Human Services (HHS) is distributing $30 billion in relief funding to all providers that received Medicare fee-for-service reimbursements in 2019 by Taxpayer Identification Number (TIN). These funds come from a $100 billion appropriation to Public Health and Social Services Emergency Fund (the Relief Fund) made in the CARES Act.
Each TIN will receive approximately 6.2% of its 2019 Medicare fee-for-service payments (not including Medicare Advantage). For example, a provider that received $1 million in Medicare payments in 2019 will receive a relief payment of approximately $62,000.
A provider is entitled to a Relief Fund payment even if the provider has availed itself of other COVID-19-related relief, such Medicare Advanced Payments and the Paycheck Protection Program.
HHS partnered with UnitedHealth Group (UHG) to make payments via Automated Clearing House account information on file with UHG or the Centers for Medicare & Medicaid Services (CMS). The automatic payments will come from Optum Bank with “HHSPAYMENT” as the payment description.
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Relief Fund payments are not loans – they do not have to be repaid or forgiven. However, this money comes with strings attached. Within 30 days of receipt, a provider must sign an attestation confirming receipt of the funds and agreeing to specific terms and conditions. The portal for signing the attestation will open the week of April 13 and will be linked from the CARES Act Provider Relief Fund website.
Source: PR Newswire