In June, HHS announced that Medicaid providers experiencing a loss of revenue or increased expenses due to COVID-19 would be eligible for a grant of 2% of annual revenue related to payments received from dental patient care. on Friday, July 10, 2020, HHS announced that these funds are now available to ALL dentists. However, to find out if you are eligible, you must apply.
Here are some of the key facts you need to know:
- HHS will match your Taxpayer Identification Number (TIN) to a list of approved providers to be eligible. If your TIN does not match the list, there is a process to appeal.
- As of now, these funds are a grant and do not need to be paid back, but they will be taxable as income. The ADA is lobbying to make these payments tax free.
- The deadline to apply is July 24, 2020. Funds are limited.
- You are not eligible for this grant if you received relief funds from HHS.
- Funds cannot be used for the same expenses used for PPP Funds or EIDL and cannot be used to pay the owner.
We will continue to follow these developments and will provide additional information as we receive clarification. These are very challenging times.
Please contact BWTP P.C. if you have questions about this information.