Did Your West Virginia Nursing Facility Receive a Paycheck Protection Program (PPP) Loan?
The PPP provides cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during the health emergency.
CAUTION for WV Nursing Homes!!!
Before applying for PPP loan forgiveness, consider discussing the impact of loan forgiveness with an ACT health care professional. Loan forgiveness could have a negative impact on your West Virginia Medicaid reimbursement rate. As of July 23, 2020, the accounting treatment of loan forgiveness on the WV Medicaid cost report has not been determined nor formally communicated by the WV Department of Health and Human Resources (DHHR).
ACT health care professionals are keeping up-to-date on COVID-19 related relief funding and reporting. We are working closely with the WV DHHR and the WV Health Care Association (WVHCA) to assist health care entities navigate through the myriad of COVID-19 related information and regulations.