SDAHO has been tracking funding being appropriated to hospitals and healthcare systems to help combat the COVID-19 pandemic. Below are two informational documents to assist our members navigate the various funding outlets.
- Adjustment of Sequestration – Medicare sequestration reduction will be suspended May 1 through December 31, 2020
- Delay of Payment of Employer Payroll Taxes – Allows employers to defer payment of the 6.2 percent FICA tax, which is applied to wages below $137,700 in 2020
- SDAHO Health, Research, Education, and Trust (HRET)– was recently awarded a $560,000 grant from the Assistant Secretary for Preparedness and Response (ASPR) to be dispersed to member facilities, considering the growing supply chain shortages. Members will be able to use these funds to secure additional PPE. Funds are expected to be dispersed in the following weeks.
- Public Health and Social Services Emergency Fund – $100 billion in funds available for hospitals to “prevent, prepare for, and respond to coronavirus.” All South Dakota facilities and providers that received Medicare fee-for-service (FFS) payments in 2019 were eligible, in total receiving $107 million from Centers for Medicare & Medicaid Services to help with COVID-19 pandemic.
- Accelerated Medicare Payments – Eligible providers can request accelerated payments that cover a time period of up to six months (possibly more changes to this as more guidance is released)
- Small Business Administration Loans – Up to $10 million in loans for the Paycheck Protection Program to businesses to keep their workforce employed
- FCC Telehealth Program– $200 million to promote access to telecommunications, information services and connected devices that provide connected care services in response to the pandemic
SDAHO will be updating the Automatic and Federal Funding Opportunities Resource Documents, please refer to the SDAHO COVID-19 News and Resources webpage for updates.