Argentum Announcement from James Balda, President & CEO
October 1, 2020
- Assisted living providers are eligible for additional funding from a third distribution of the Provider Relief Fund.
- This additional relief is intended to offset costs related to financial losses or changes in operating expenses due to COVID-19.
- Applications will open on Monday, October 5, 2020 and close Friday, November 6, 2020.
Today, HHS announced the next phase of funding from the Provider Relief Fund, for which assisted living providers are eligible. This funding, which includes $20 billion for providers on the front lines of the pandemic, is intended to offer the opportunity for providers that have already received funding to apply for additional funding based on financial losses and changes in operating expenses as a result of COVID-19. According to HHS, it is “designed to balance an equitable payment of 2% of annual revenue from patient care for all applicants plus an add-on payment to account for revenue losses and expenses attributable to COVID-19.”
Providers can begin applying for this next phase of funding on Monday, October 5, 2020 and the deadline for applications is November 6, 2020. The portal will not open until Monday, October 5, but at that time, applications can be submitted by visiting hhs.gov/providerrelief.
The HHS announcement shares the following eligibility requirements for applications:
- Providers who previously received, rejected, or accepted a General Distribution Provider Relief Fund payment. Providers that have already received payments of approximately 2% of annual revenue from patient care may submit more information to become eligible for an additional payment.
- Healthcare providers that began practicing January 1, 2020 through March 31, 2020. This includes Medicare, Medicaid, CHIP, dentists, assisted living facilities and behavioral health providers.
Regarding methodology, the HHS announcement indicates:
- All applications will be reviewed to confirm the provider has previously received a Provider Relief Fund payment equal to approximately 2% of patient care revenue from prior general distributions. Applicants that have not yet received Relief Fund payments of 2% of patient revenue will receive a payment that, when combined with prior payments (if any), equals 2% of patient care revenue.
- With the remaining balance of the $20 billion budget, an equitable add-on payment will be determined considering the following factors:
- A provider’s change in operating revenues from patient care;
- A provider’s change in operating expenses from patient care, including expenses incurred related to coronavirus; and
- Payments already received through prior Provider Relief Fund distributions.
This additional $20 billion for providers was made possible by the passage of the CARES Act, the Paycheck Protection Program, and the Health Care Enhancement Act, which allowed for the allocation of $175 billion in relief funding to hospitals and other health care providers.