December 17, 2020
HHS Announces Increase and Distribution of Phase 3 COVID-19 Provider Relief Funding
Yesterday, December 16, the U.S. Department of Health and Human Services (HHS) announced it has completed review of the Phase 3 COVID-19 Provider Relief Fund applications and will distribute $24.5 billion in relief to more than 70,000 health care providers, an increase from the $20 billion originally planned.
The Provider Relief Fund supports healthcare providers in the battle against the COVID-19 pandemic and was established through the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March 2020.
In the announcement, HHS stated the Phase 3 payments will give providers with 88% of their reported lost revenues and net change in expenses caused by the COVID-19 pandemic in the first half of 2020. The agency noted that over 35,000 of the Phase 3 applicants will not receive an additional payment due to no change in revenues or net expenses attributable to COVID-19.
The payments started being distributed yesterday and will continue through January 2021.
Read the full statement here.
Visit the HHS website to learn more about the CARES Act Provider Relief Fund.
ASA’s Economic Relief Resources