04/10/2020

CARES Act Provider Relief Fund

Starting Friday, April 10, 2020, the Department of Health and Human Services (HHS) will begin its first round of distributions under the CARES Act Provider Relief Fund, which will ultimately result in $100 billion to eligible providers. As part of the first round of relief, HHS will electronically deposit payments totaling $30 billion directly to facilities and providers that received Medicare fee-for-service (FFS) reimbursements in 2019. The amount each provider is eligible to receive will be determined based upon their share of total Medicare FFS reimbursements in 2019. For more information on eligibility and payment determinations, visit the HHS website at https://www.hhs.gov/provider-relief/index.html

The Federal Reserve Board recently unveiled several programs under the CARES Act. The two primary programs, the Main Street New Loan Facility and Main Street Expanded Loan Facility, are available to privately held mid-sized and large businesses. Click here for our update providing an overview of these programs.

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