News & Insights

Reminder: Federal and LA State Financial Resources

May 13, 2020

Reminder: Federal and LA State Financial Resources

Federal

An allocation of $50 billion for general distribution of the Provider Relief Fund began with a $30 billion infusion of payments to Medicare facilities and providers to help those directly and indirectly impacted financially by COVID-19. [LINK]

These payments will not need to be repaid. Within 45 days of receiving the payment, providers must sign an attestation confirming receipt of the funds and agreeing to the terms and conditions of payment. [LINK]

You may only attest if you believe the payment you received is consistent with your estimated allocation. To calculate your estimated total allocation, divide your "Gross Receipts or Sales" or "Program Service Revenue" by 2.5 trillion, and then multiply by 50 billion. [LINK]

((Gross Receipts or Sales) / 2,500,000,000,000) X 50,000,000,000

Louisiana

Louisiana Medicaid announced that it will be distributing funds to Medicaid providers through the CARES Act. Medicaid providers do not have to submit any information directly to HHS unless funds are received. [LINK]

 

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