The Centers for Medicare & Medicaid Services (CMS) announced amended terms for payments issued under the Accelerated and Advance Payment (AAP) Program. Under the original terms of the loans, providers were required to start making payments in August. Now, providers and suppliers have one year after their accelerated or advanced payment loan issuance dates to start making repayments. CMS has so far issued approximately $106 billion in loans to providers who were struggling with revenues and financing during the COVID-19 Pandemic.
This article was submitted by Cory Kopitzke, Quarles & Brady LLP. If you would like to submit content or write an article for the Health Care & Life Sciences Section, please email Kara Sikorski at email@example.com.