$20 BILLION MORE UNDER PROVIDER RELIEF FUND – [UPDATED 5/26/2020]
HHS announced and began the next round of payments under the Provider Relief Fund. The first $30 billion was distributed according to Medicare payments (see the next section). This round is $20 billion and is based on your net revenue in 2018 against the entire estimated healthcare net revenue amounts from 2018 (some estimating $2.5 trillion total). Additionally, most providers are required to submit information via a portal to receive their portion of the $20 billion.
HHS stated, “Any provider who has already received a payment from the Provider Relief Fund as of 5:00 pm EST Friday, April 24th can and should apply for additional funding via the Provider Relief Fund Application Portal.” Additionally, before submitting your information to receive the additional payment, you must have already attested to the terms and conditions for the first disbursement.
To receive your funds, you must submit your application through the portal. You can find the link for the general distribution application portal on the Provider Relief Fund page or by direct link here.
According to the General Distribution portal FAQ, HHS is collecting four pieces of information for use in allocating these remaining General Distribution funds:
1) a provider’s “Gross Receipts or Sales” or “Program Service Revenue” as submitted on its federal income tax return;
2) the provider’s estimated revenue losses in March 2020 and April 2020 due to COVID;
3) a copy of the provider’s most recently filed federal income tax return; and
4) a listing of the TINs any of the provider’s subsidiary organizations that have received relief funds but that DO NOT file separate tax returns.
Like the first $30 billion, these funds can be used to cover additional COVID-19 expenses OR lost revenues. Thus, if you had lower revenue in March and April that are greater than the funds received from HHS from the initial disbursement and this disbursement combined, that will satisfy the usage portion of the requirement.