Celtic Consulting

Breaking News for Providers that Requested Advanced/Accelerated Medicare Payments

Posted Friday, October 2, 2020

On October 1, 2020, President Trump signed into law H.R.8337: Continuing Appropriations Act, 2021 and Other Extensions Act.

This act means the following for providers:

  • Repayment terms for facilities that asked for advanced Medicare payments have been changed
  • Loans for Part A providers and hospitals, are extended to 29 months from the 1st payment (the date of the 1st check), before interest (4%) is applied
  • The earliest repayment date for Part A and Part B providers is 12 months from the 1st check
  • CMS has put limits on the total amount deducted from new claims during recoupment:
    • 1st Repayment Period

Timeframe: Initial 11 Months (Your next Medicare Remittance Advice for current billing)

Amount of Loan Due: 25% of the loan amount

  • 2nd Repayment Period

Timeframe: Next 6 months

Amount of Loan Due: 50% of the loan amount is due

Looking for further clarification of the Continuing Appropriations Act? Wondering how this specifically impacts your revenue? Contact Celtic for guidance through this development.