The Centers for Medicare & Medicaid Services yesterday announced new repayment terms for payments received under its Accelerated and Advance Payment programs, including a longer time period before repayment, lower recoupment rates during repayment, lower interest on remaining unpaid balance, and additional repayment flexibilities.
The announcement implements provisions of the Continuing Appropriations Act, 2021 and Other Extensions Act, which was enacted on Oct. 1, 2020.
The repayment terms are amended for all providers and suppliers who requested and received AAPs during the COVID-19 public health emergency. In addition to describing the new terms, CMS announced that the agency no longer will accept applications for AAPs as they relate to COVID-19. CMS also clarified that Provider Relief Funds can be used toward repayment of these Medicare loans.