Nursing Facilities to Receive Additional HHS Relief Funds
Another round of Provider Relief Funds will be begin to arrive on Friday, May 22 to Skilled Nursing Facilities (SNF). Nearly $4.9 billion in funding will be issued to help nursing homes that are suffering from additional expenses and lost revenue as a result of the COVID-19 pandemic. These additional funds can assist facilities with addressing labor costs, testing, acquiring personal protective equipment and any other expenses related to the pandemic. Any SNF with six or more certified beds will be included in this round of payment, which is calculated as follows:
- SNFs will receive a fixed $50,000 distribution
- SNFs will receive an add-on of $2,500 per bed
As with the previous payments, facilities will have 45 days from the date of the receipt of the payment to attest that they will use these funds as set forth in the “Terms and Conditions”.
As a reminder, all providers must complete the attestation for previous payments by June 8, 2020. In addition, facilities must submit their federal income tax return and an estimation of their March and April 2020 lost revenue, due to COVID-19. The due date for this submission is June 3, 2020. For those facilities that only received one payment as of April 24, this additional information will be used to determine if a facility is eligible for an additional distribution payment.
If you have any questions about this third round payment, previous payments, attestation and information filing requirements, please reach out to your Marcum healthcare professional.
Coronavirus Resource Center
Have more questions about the impact of the coronavirus on your business? Visit Marcum’s Coronavirus Resource Center for up-to-date information.