The President signed the bipartisan CARES Act on March 27, 2020, providing $100 billion in relief funds to America’s healthcare providers and facilities in response to COVID-19. The first $30 billion installment are in process of being issued, and some eligible providers and medical facilities across the country began receiving direct deposits as early as April 10, 2020 to help with healthcare-related expenses and lost revenue due to COVID-19.
Payments received via direct deposit will see deposits from Optum Bank with “HHSPAYMENT” as the payment description. HHS notes that these are payments, NOT loans, and DO NOT need to be repaid. There are, however, certain terms and conditions that recipients must abide by. HHS Terms and Conditions can be accessed here. HHS states as part of their Terms and Conditions, that “The Recipient shall submit reports as the Secretary determines are needed to ensure compliance with conditions that are imposed on this Payment, and such reports shall be in such form, with such content, as specified by the Secretary in future program instructions directed to all Recipients.”
It is imperative to note that those who have been allocated funds and received a payment from HHS, or those who wish to RETURN those funds, MUST confirm receipt as well as agree to the terms and conditions, or reject the funds, by signing an Attestation Form through the HSS Portal, within 30 days or receipt. The CARES Act Provider Relief Fund Attestation Portal can be accessed here.
Many professional societies are also monitoring these legislative updates and provide links to relevant resources for providers and medical facilities across the nation. The American Hospital Association (AHA) released a statement in regards to HHS CARES ACT Funding – “we are pleased that HHS released emergency funds to hospitals and health systems from the CARES Act. This is a life-line to many front line providers and will help ensure that we can continue to deliver the care that our patients and communities are depending on.”
MGMA states that group practices with questions about the grant funds can call the Provider Relief hotline at (866) 569-3522.
Relevant Professional Resource Links
American Hospital Association – Updates and Resources of Novel Coronavirus (COVID-19)
Health and Human Services – Cares Act Provider Relief Fund
HHS ResourcesTerms & Conditions
Medical Group Management Association (MGMA) – MGMA COVID-19 Action Center
For more information on how the Coronavirus is impacting businesses across multiple industries, visit our COVID-19 resource page: