tci Medicare Compliance & Reimbursement - 2020 Issue Q3

COVID-19: See Tax Update on Provider Funding

Tip: Check feds’ FAQs daily for COVID-19 changes. Whether you’re still waiting for CARES Act funding to be deposited into your account or you already received your share, you may be surprised by some recent changes. The feds revised their guidance with some tax-related updates. Read on for the details. Nuts and bolts: Back in April, the Department of Health and Human Services (HHS) began its “General Distribution” of CARES Act Provider Relief Funds (PRF) and deposited the money directly into Medicare providers’ accounts. This staggered $50 billion rollout was followed by several more billions in &ldquo...

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