On April 7, 2020, CMS Administrator, Seema Verma, provided information on the distribution of $100 billion in funding to health care providers as part of the CARES Act.
Administrator Verma noted that $30 billion from the fund would be distributed this week based on “Medicare revenue” and that these are “essentially grants with no strings attached.”
Guidance showing the calculation used for payment amounts, as well as other important information can be found at the following HHS.gov webpage,
CARES Act Provider Relief Fund
Based on feedback ACT has received from several clients, some deposits have already been received with varying versions of “HHS Stimulus” as the description.
For the remaining $70 billion dollars in funding, the Trump Administration is working rapidly on targeted distributions that will focus on providers in areas particularly impacted by the COVID-19 outbreak, rural providers, providers of services with lower shares of Medicare reimbursement, providers who predominantly serve the Medicaid population, and providers requesting reimbursement for the treatment of uninsured Americans.