Healthcare providers may notice they have a deposit in their bank today titled ACH DEP US HHS STIMULUS.
This is the distribution of $30 billion in grants to healthcare providers as part of the fund authorized by the CARES Act. These are payment, NOT LOANS and have no repayment obligations.
Healthcare entities eligible for these payments include any providers that received Medicare fee-for-service payments in calendar year 2019.
The amount of the payment is determined by each providers’ proportional share of the 2019 Medicare FFS reimbursements.
Starting next week you will need accept this payment via the HHS Terms and Conditions.
Please do not hesitate to contact us with any additional questions.