When the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed earlier this year, all sequestration payments were suspended through December 31 of this year. This apparent bonus can with a cost. We as providers were not hit with the 2% penalty for the last 9 months of this year, but the same bill extended the sequestration an additional year.
A bill signed into law on December 27 extends the suspension of the 2% sequestration until March 31 of 2021.
In addition CMS - through United Health Care has released an additional payment to many practices who experienced a financial downturn due to the public health emergency. If you have not applied for that additional payment, please visit the HHS website at https://www.hhs.gov/coronavirus/cares-act-provider-relief-fund/for-providers/index.html#how-to-apply and apply for your Phase 3 distribution payment.
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