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.