Compliance Deadline Review: Vaccines, PRF & More
The many COVID-19 payments, loans, and grant funds available to medical practices each have compliance deadlines associated with them. Check below for upcoming deadlines to keep in mind throughout 2022.
April 5, 2022 Deadline: Submit COVID-19 Vaccine Administration Claims for Reimbursement
The COVID-19 Coverage Assistance Fund which reimburses claims for testing, treatment, and vaccine administration is running out and the deadline to submit vaccine administration claims is quickly approaching. Claims will be accepted through April 5, 2022, at 11:59 pm via the COVID-19 CAF portal.
Claims submitted to the portal after the April 5, 2022 deadline will not be adjudicated. The Health Resources and Services Administration (HRSA) notes that claims submitted by the deadline will be paid subject to their eligibility and the availability of funds. The AMA has urged Congress to appropriate more money to support the COVID-19 efforts.
The dedicated Coverage Assistance Fund customer support may be reached at 833-967-0770 (TTY number 888-970-2920) Monday through Friday from 8:00 am – 8:00 pm EST or at cafsupport@ssigroup.com.
10 Months After Loan Service Period Ends: Paycheck Protection Program I & II Forgiveness
The deadline to apply for Paycheck Protection Program loan forgiveness after a covered services loan period (8-24 weeks) is 10 months. For example, if the last day of a covered services loan period was January 1, 2022, then the last day to apply for forgiveness would be October 1, 2022.
For loans up to $150k, an abbreviated Form 3508S can be used, and for loans $50k or less, no documentation other than Form 3508S needs to be submitted. Watch your deadlines! Repayment occurs automatically if forgiveness has not been granted. Any payments taken on a loan that are later forgiven will be returned. Learn more and apply for forgiveness.
Need more help? Check out our recent webinar on relief fund reporting.
September 30, 2022 Deadline: Provider Relief Fund Tranche III Reporting
Reporting deadlines for tranches I and II of the Provider Relief Fund have passed. The reporting time period for tranche III (provider relief funds received January 1, 2021 to June 30, 2021 ) is July 1, 2022, to September 30, 2022.
There will also be a reporting period for tranche IV that ends March 31, 2023. Two related requirements to monitor are single payer financial audits and random government compliance audits.
Need more help? Check out our recent webinar on relief fund reporting.
Apply Up to 3 Years from Original Due Date: Employee Retention Tax Credit
Don’t leave this money on the table! Practices that experienced more than a 50% revenue decline in at least one 2020 calendar quarter compared to the same quarter in 2019 or a 20% decline in at least one quarter in 2021 when compared to 2019 are eligible for this tax credit.
The credit is based on payroll and is claimed by amending Form 941 for the affected quarters. For 2020, credit is 50% of wages paid in eligible periods up to $10,000 per employee (MAX refund is $5k per employee per year). For 2021, credit is 70% of wages paid in eligible periods up to $10,000 per employee per quarter for the first 3 quarters of the year.
The credit is paid to your practice directly – one check for each amended quarter. 941s can be amended up to 3 years after the original due date. Learn more.
Need more help? Check out our recent webinar on relief fund reporting.