March 28, 2020
The CMS Saturday detailed how providers can access accelerated or advanced Medicare payments under the new economic stimulus package.
The Coronavirus Aid, Relief, and Economic Security Act—CARES—which President Donald Trump signed into law on Friday, enables all Medicare providers to tap into an emergency fund in order to shore up their cash flows.
According to a CMS release, providers or suppliers must:
- Have billed Medicare for claims within 180 days immediately prior to the date of signature on the provider’s/ supplier’s request form,
- Not be in bankruptcy,
- Not be under active medical review or program integrity investigation, and
- Not have any outstanding delinquent Medicare overpayments
The agency will start accepting and processing requests immediately and said payments could go out within seven days.