If your practice received any advance payments from Medicare’s Accelerated Advance Payment Program (initiated in Early March of 2020), repayment via claim offsets are due to start over the next few weeks.
As we reported in October, Medicare’s updated repayment terms extended the recoupment start date from 120 days to 1 year from the date of the issuance of payment. Providers who received Advance payments from Medicare will repay them through an automatic recoupment of 25% of current Medicare payments otherwise owed to you for 11 consecutive months. For the following 6 months, the automatic recoupment will increase to 50% of current payments. In other words, Medicare will subtract money from your current payments and apply that money to your Advance amount.
What Do I Need To Do?
KatzAbosch strongly suggests that practices use a spreadsheet to track the Medicare payments withheld during the 17-month recoupment period against the total amount of your Medicare Advance. Tracking will allow you to monitor your remaining balance as any amount not collected during the 17 months will be due back to CMS with interest. For your convenience, we have created a helpful tool to track your recoupments. Our tracking tool can be found here.
For more information about the repayment process please visit Maryland’s Medicare Administrator website, Novitas. Please do not hesitate to reach out if we can be of any assistance on this process or any other COVID funding processes that you may need help with.
