Stimulus Relief for Healthcare Providers to start Friday April 10th

by | Apr 14, 2020

On Friday, April 10, 2020, the Department of Health and Human Services (HHS) implemented relief targeted to healthcare providers and hospitals. This relief was part of the record stimulus deal that Congress passed in response to the COVID-19 pandemic, The Coronavirus Aid, Relief, and Economic Security Act (CARES).

This assistance is not a loan and will not be repaid. This round of $30 billion is focused on providing financial support to providers and hospitals who are enrolled in Medicare.  The payment is based on a portion of the providers’ share of Medicare fee-for-service (FFS) reimbursements. The payments will be paid electronically for those who receive electronic payments or checks for those who usually receive checks.

It is expected that the next round of relief will be targeted at certain specialties especially hit by the COVID-19 outbreak.

For more information on this relief please visit:

https://www.hhs.gov/about/news/2020/04/10/hhs-to-begin-immediate-delivery-of-initial-30-billion-of-cares-act-provider-relief-funding.html

Visit the HHS website at https://www.hhs.gov/ to learn more about future relief efforts.

As your trusted advisors, we are committed to keeping you well-informed with any new legislation passed by Congress. Please do not hesitate to reach out to KHA with any additional questions you may have.  

These sources are simply included for informational purposes. KHA Accountants, PLLC, its partners and others do not provide any assurance as to the accuracy of these items or the information included therein. As such, KHA Accountants, PLLC cannot be held liable for any information derived from referenced sources. Consult your legal and business advisors prior to making financial decisions. This is intended for illustrative and discussion purposes only.

IRS Announces Increases for HSAs and HDHPs in 2023

The IRS recently released new contribution limits for 2023 health savings accounts and excepted benefit health reimbursement arrangements and new requirements for qualifying high deductible health plans to reflect cost of living adjustments. Learn about the new limits and requirements in this article.

Growing your Business Through Mergers and Acquisitions

The business world is consolidating rapidly and companies of all sizes are looking to increase their size, power, and efficiency through merger and acquisition (M&A) activity. Learn how a merger or acquisition may help your company grow quickly and efficiently.

Estate planning: Five ways to avoid probate

Estate planning enables you to specify what happens with your assets after death or incapacitation. While every situation is unique, individuals often create estate plans that minimize the need for probate. Probate is the legal process of validating a will and...