CMS Updates its FAQS for Accelerated and Advance Payment | News | APMA
CMS Updates its FAQS for Accelerated and Advance Payment

July 12, 2021

dollar sign question mark tree, FEQs concept

CMS updated its COVID-19 Accelerated and Advance Payment (CAAP) Repayment & Recovery FAQs on June 24.

The CAAP allowed for payments to providers as a result of the COVID-19 Public Health Emergency. For repayment to take place, there are existing repayment and recoupment processes that CMS uses to recover these advanced payments, effective one year after CMS issued the CAAP disbursement. (Note: This date may vary slightly from when the funds were actually received, due to the bank needing to clear it first.)

Once recoupment begins, 25 percent of all Medicare payments will be automatically deducted from the provider for 11 months; thereafter, the rate will increase to 50 percent for another six months. If there is any balance left when the six months are completed, a demand letter will be sent for the remaining balance. If full payment is not sent within 30 days from the date of the letter, an interest rate of 4 percent will begin to accrue on the remaining balance for each 30-day period. An extended repayment schedule can only be requested once the demand letter is received, and certain hardships would have to be met to qualify.

More information: 

CMS COVID-19 Accelerated and Advance Payments Resource Page

APMA Accelerated and Advance Payment Resource Page


Leave Your Thoughts

Please sign in to leave a comment



Related Resources

New Comparative Billing Report on Orthoses Referring Providers

Learn More

APMA Request HCPCS L3010 Narrative Description be Updated to Reflect Current Usage

Learn More

ADVERTISEMENT
All your coding questions answered in one convenient, online resource. subscribe today!