$25.5 Billion in Funding Available For Health Care Providers
On September 10, 2021, the Department of Health and Human Services (HHS) announced $25.5 billion of new funding will be available to assist health care providers affected by the Covid-19 pandemic. $8.5 billion, funded through the American Rescue Plan, will go to those providers who serve rural Medicaid, Children’s Health Insurance Program (CHIP), and Medicaid patients. The remaining $17 billion, funded through the Provider Relief Fund Phase 4, is aimed at helping a broad range of providers who are able to document revenue expenses and losses associated with the pandemic between July 1, 2020 and March 31, 2021. Smaller providers (who often operate on thin margins and serve more vulnerable communities) and those providers who serve Medicaid, CHIP, and Medicare patients are eligible for higher reimbursement rates and bonuses. The application portal to apply for these funds opens on September 29th. Providers will be able to apply for both programs on a single application in order to expedite the process.