COVID-19 CARES Act: Release of $30 Billion
On Friday, April 10, 2020, HHS announced immediate payments to Medicare providers in connection with the $100 billion Provider Relief Fund passed by Congress as part of the CARES Act signed by President Trump on March 27, 2020. These immediate payments total $30 billion and are being disbursed directly and immediately through direct deposit to eligible providers throughout the country.
HHS made clear in its announcement that these funds are payments—not loans—and do not need to be repaid by the providers receiving them. This whitepaper was prepared by the Health Care Group of law firm Brown & Fortunato, P.C. for Sykes & Company, P.A. to share with our pharmacy clients.