To increase cash flow to providers impacted by the 2019 novel coronavirus (COVID-19) pandemic, Medicare is offering a “cash advance” of up to three months of the average monthly Medicare payments.
Below is a brief summary of the program.
SUMMARY
- Advance Amount – Providers can request up to 100% of the Medicare payment amount for a three-month period. Example: average monthly payment $5,000, maximum available $15,000.
- Timing – CMS to review and issue payments within seven (7) calendar days of receiving the request.
- Repayment – CMS has extended the repayment of these accelerated/advance payments to begin 120 days after the date of issuance of the payment.
Link to the complete details: https://medicare.fcso.com/coronavirus/0460439.asp?WT.ac=AdvancePayment&WT.ad=Homepage%20Banner
How to access the application and upload the form: https://medicare.fcso.com/Enrollment/EnrollmentGateway.asp
Link to the application: https://medicare.fcso.com/wrapped/0460438.pdf
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