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WEBINAR MATERIALS: CARES Act Grants - Updated Reporting Requirements & Latest FAQs

12/10/2020 - By Andrew Kent, Esq., CVA, Claudia Reingruber, CPA, CHC, and Al Grimes

See below for access to our free webinar on Thursday, December 10th.

Healthcare providers nationwide have benefited from the CARES Act, which provided $175 billion in much-needed Provider Relief Funds that were issued by the Department of HHS in a series of General and Targeted Distributions beginning in April 2020. Providers were required to attest to specific Terms and Conditions for each distribution in order to retain and use the grants to support their continued delivery of essential healthcare services – even though the specific reporting requirements to which they agreed to satisfy had not yet been published.   

In the meantime, HHS was slow to issue specific reporting guidance and timeframes, until September 19, 2020, when initial reporting requirements were published. However, these contained significant variations from prior HHS FAQs, especially narrowing the definition of “lost revenues” to which PRF funds could be applied. This guidance was also at variance with the “lost revenue” providers had to report to HHS when attesting to the Terms and Conditions attached to each grant distribution.  

On October 22, 2020, HHS released the most recent version of reporting requirements and updated FAQs and acknowledged that these new instructions reflected feedback received from, and the consensus of, stakeholders and Members of Congress, and were modified to permit providers to apply PRF revenues against all lost revenues without limitation.  

Now that detailed reporting requirements have been defined along with basic guidance addressing the potential need for a single audit by some recipients, this webinar presented by the Saltmarsh Healthcare leadership team of Andrew Kent, Esq., CVA, Claudia Reingruber, CPA, CHC, and Al Grimes focus on these critical updated instructions and provide illustrative modeling.

We address HHS and CMS guidance relating to:

  • The October 22, 2020 reporting and audit obligations, including:
    • 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
  • Medicare and Medicaid cost reporting implications
  • Current status of recoupment plans for Medicare Advance and Accelerated Payments

Access Webinar Materials Here

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