Medical practice owners and healthcare providers are eligible for some of the $50 billion CARES Act relief funding through the Department of Health and Human Services (HHS). All relief payments are being made according to tax identification number (TIN). For example:
- Large Organizations and Health Systems: Large Organizations will receive relief payments for each of their billing TINs that bill Medicare. Each organization should look to the part of their organization that bills Medicare to identify details on Medicare payments for 2019 or to identify the accounts where they should expect relief payments.
- Employed Physicians: Employed physicians should not expect to receive an individual payment directly. The employer organization will receive the relief payment as the billing organization.
- Physicians in a Group Practice: Individual physicians and providers in a group practice are unlikely to receive individual payments directly, as the group practice will receive the relief fund payment as the billing organization. Providers should look to the part of their organization that bills Medicare to identify details on Medicare payments for 2019 or to identify the accounts where they should expect relief payments.
- Solo Practitioners: Solo practitioners who bill Medicare will receive a payment under the TIN used to bill Medicare.
Providers can check eligibility by visiting https://www.hhs.gov/coronavirus/cares-act-provider-relief-fund/index.html [1].
- If you received automatic payments, verify by going to the following link: https://covid19.linkhealth.com/docusign/#/step/1 [2]
- If you did NOT receive the automatic payments, you will need to provide information through the “General Distribution Portal”: https://covid19.linkhealth.com/docusign/#/step/1 [2]
Information required for verification process of automatic payments through the General Distribution Portal includes:
- Name
- Address
- Type of Entity (partnership, corporation, s-corporation, sole proprietor, etc)
- Medicare or Medicaid ID #
- Electronic copy of your 2018 tax return (you will need to download to portal)
- Revenue reported on your 2018 tax return
- Estimated revenue lost during the month of March, 2020
- Estimated revenue lost during the month of April, 2020
If you’d like assistance recovering CARES Act relief funding for your medical practice or healthcare business, please contact your ShindelRock tax professional.