Through the CARES Act and the Paycheck Protection Program and Health Care Enhancement Act (PPPCHE), the federal government has allocated $175 billion in payments to be distributed through the Provider Relief Fund (PRF).
As qualified providers of health care, services, and support, you may have received PRF payments for healthcare-related expenses or lost revenue due to COVID-19.
What do you need to do now that you have received the cash?
- Register as a PRF recipient and “attest” to receipt of the payment. You must either accept or reject funds within 90 days of receipt through the https://cares.linkhealth.com/#/.
- To accept payment, you must agree to the Terms and Conditions of the payment https://www.hhs.gov/coronavirus/cares-act-provider-relief-fund/faqs/provider-relief-fund-general-info/index.html#terms-conditions
- If you reject the payment, you must return the funds to Health and Human Services (HHS) within 15 calendar days of the attestation.
- Report on use of funds. All recipients are required to comply with the reporting requirements described in the Terms and Conditions and specified in future directions issued by HHS Secretary. PRF payments may be used to cover lost revenue and health-related expenses purchased to prevent, prepare for, and respond to coronavirus. See more information about reporting requirements here https://www.hhs.gov/sites/default/files/provider-post-payment-notice-of-reporting-requirements.pdf and https://www.hhs.gov/sites/default/files/provider-post-payment-notice-of-reporting-requirements-january-2021.pdf. Reporting deadlines are included in these documents.
- Reporting requirements differ based on the amount of funds received based on the tiers listed below.
- o <$10,0000
- $10,000 – $499,999
- PRF payments totaling over $750,000 are subject to a single audit (applicable to all entity types).
If you have received PRF funds you need to register as a recipient, attest to receipt of payment, and begin the process of collecting reporting data. The reporting requirements are significant and further information will be provided directly to you once you register at the PRF Application and Attestation Portal (https://cares.linkhealth.com/#/).
If you need assistance with the financial elements of the reporting requirements, please give us a call to discuss.