NEW INFO!! Attention: Medicare FFS health care providers
As part of the CARES act, 2019 Medicare FFS health care providers are receiving part of the $100 billion cash infusion into the healthcare system.
Right now, proceeds from the first $30 billion of that are being distributed.
Per the HHS website:
Recognizing the importance of delivering funds in a fast and transparent manner, $30 billion is being distributed immediately – with payments arriving via direct deposit beginning April 10, 2020 – to eligible providers throughout the American healthcare system. These are payments, not loans, to healthcare providers, and will not need to be repaid.
From the website, it appears these payments will be automatic –direct deposited if that is how you have received Medicare reimbursements in the past, by check if you received paper checks in the past.
The site also states:
What to do if you are an eligible provider
HHS has partnered with UnitedHealth Group (UHG) to provide rapid payment to providers eligible for the distribution of the initial $30 billion in funds.
Providers will be paid via Automated Clearing House account information on file with UHG or the Centers for Medicare & Medicaid Services (CMS).
The automatic payments will come to providers via Optum Bank with "HHSPAYMENT" as the payment description.
Providers who normally receive a paper check for reimbursement from CMS, will receive a paper check in the mail for this payment as well, within the next few weeks.
Within 30 days of receiving the payment, providers must sign an attestation confirming receipt of the funds and agreeing to the terms and conditions of payment. The portal for signing the attestation will be open the week of April 13, 2020, and will be linked on this page.
HHS' payment of this initial tranche of funds is conditioned on the healthcare provider's acceptance of the Terms and Conditions - PDF, which acceptance must occur within 30 days of receipt of payment. If a provider receives payment and does not wish to comply with these Terms and Conditions, the provider must do the following: contact HHS within 30 days of receipt of payment and then remit the full payment to HHS as instructed. Appropriate contact information will be provided soon.
This is different than the CMS (Medicare) Accelerated and Advance Payment Program. The website states:
Is this different than the CMS Accelerated and Advance Payment Program?
Yes. The CMS Accelerated and Advance Payment Program has delivered billions of dollars to healthcare providers to help ensure providers and suppliers have the resources needed to combat the pandemic. The CMS accelerated and advance payments are a loan that providers must pay back. Read more information from CMS.
For more information, see this link:
Link to prior post Expansion of Medicare Advance Payment: