The Centers for Medicare and Medicaid Services issued a press release on March 28, 2020, announcing an expansion of its accelerated and advance payment program for Medicare participating health care providers and suppliers, to ensure they have the resources needed to combat the 2019 Novel Coronavirus (COVID-19). The program expansion will work to lower the financial hardships for providers dealing with challenges related to the COVID-19 pandemic. Key items for a provider to qualify for accelerated or advance payments are as follows:
- Have billed Medicare for claims within 180 days immediately prior to the date of signature on the provider’s/ supplier’s request form,
- Not be in bankruptcy,
- Not be under active medical review or program integrity investigation, and
- Not have any outstanding delinquent Medicare overpayments.
It is noted that requests of up to 100% of the Medicare payment amount for a three-month period will be allowed for most providers and suppliers. Advanced repayments can be expected to be received 120 days after the date of issuance. Thereafter, the advances for Part B providers must repay or allow Medicare to recoup such advances within 210 days. Most hospitals will be able to extend the repayment period for a year.