Last week, Jim Parker, Senior Advisor to the Secretary for Health Reform at HHS, spoke to Argentum’s Executive Advisory Board (EAB) about COVID-19 relief funding for assisted living communities. Members of the EAB had an opportunity to ask questions regarding the Phase 3 General Distribution from the Provider Relief Fund. This distribution of $20 billion was announced on October 1 and is open to all eligible providers from earlier Provider Relief Fund distributions.
Parker indicated that the Phase 3 distribution is meant to bring all qualified providers to a “baseline” distribution equivalent to 2% of revenue for a single year. Additionally, once that threshold has been met for all applicants, HHS will develop a methodology to disburse the remaining funds.
The goal of the methodology is to distribute the remaining dollars in a proportionate manner based on revenue losses and increased expenses due to COVID-19. Applications for the Phase 3 disbursement are due no later than November 6 at 11:59 p.m. ET. Parker strongly urged all assisted living communities to apply. Approximately 10-14 days after all applications are received, HHS will announce the methodology and proportion of losses that applicants are to receive.
It is important that you apply for Phase 3 even if you haven’t had your first payment processed from the Phase 2 General Distribution. You do not have to wait until your Phase 2 application is processed or funds are received before you can apply for the next round of funding. We strongly urge you to complete your application before the November 6 deadline, to ensure that you will be eligible to receive this round of funding. You can Read More Here about the Phase 3 distribution and how to apply.