WEBINAR MATERIALS: CARES Act Grants - Reporting Obligations & Latest FAQ Revisions
10/8/2020 - By Andrew Kent, Esq., CVA, Claudia Reingruber, CPA, CHC, and Al Grimes
See below to access materials from this free webinar held on Thursday, October 8th.
The CARES Act provided $175 for distribution by HHS healthcare providers. These funds came in the form of grants, not loans, and were intended to help address the devastating financial implications of COVID-19 on the healthcare sector – including lost revenues, declining utilization, new and increased expenses, and enhanced enforcement initiatives – all within a matter of months and at levels unprecedented in recent history. While these federal grants were essential in continuing service delivery, the associated reporting requirements (and the potential need for single audits associated with federal grants), were slow to be released with specific details.
All recipients were required to attest to specific terms and conditions, provide estimates of lost revenues, furnish tax return and other financial data to HHS, and agree to reporting requirements, the details of which were often vague and subject to change.
Now that detailed reporting requirements and basic guidance addressing the single audit implications have been published, this webinar presented by the Saltmarsh Healthcare leadership team of Andrew Kent, Esq., CVA, Claudia Reingruber, CPA, CHC, and Al Grimes focuses on these critical obligations. We will address the latest information relating to:
- Medicare and Medicaid cost reporting implications
- Mandatory reporting requirements for recipients of $10,000 or more
- Expanded reporting requirements for recipients of $500,000 or more
- Single Audit requirement for recipients of $750,000 or more
- Important updates to FAQs issued by HHS, CMS, and others
- Current status of recoupment plans for Medicare Advance Payments
Access Webinar Materials Here
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