This month features key deadlines, obligations and opportunities for Medicaid providers who received and / or are still seeking federal emergency relief to address their needs during the pandemic.
Reporting portal for providers who received payments from the Provider Relief Fund(PRF) now open: The portal to fulfill reporting requirements opened on January 15. While a previous reporting requirements summary stated the deadline to submit reporting was February 15, this was updated on January 15 and at this time there is no reporting deadline. Providers who received more than $10,000 will be expected to complete a report explaining how they used the funds.
Non-profit providers who received more than $750,000 are subject to the Uniform Guidance single audit requirements.
For-profit providers may perform the single audit, or they can perform an audit under Government Auditing Standards, which focuses more on the Provider Relief Fund grants than the entire entity.
For providers seeking additional Paycheck Protection Program (PPP) funding: A limited amount of second-round funding, referred to as PPP2, will be available to all lenders starting today. Recipients of PPP2 can get up to 2.5 times their average monthly payroll costs in the year prior to the loan up to a maximum of $2 million. Funding is restricted to first-time applicants and certain previous applicants.
Eligibility criteria for first-time applicants: must be a non-profit or business with fewer than 500 employees or sole proprietor or independent contractors or eligible self-employed individual.
Eligibility for second-time applicants: must have fewer than 300 employees and have used up the full amount of their first loan and be able to demonstrate a 25-percent gross revenue decline in 2020 compared to 2019.
We will continue to share key information on federal COVID-19 emergency funding in coming months.
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