CMS has announced amended terms for payments issued under the Accelerated and Advance Payment (AAP) Program. The new recoupment terms allow providers and suppliers one additional year to start loan payments. From the CMS press release:
Providers were required to make payments starting in August of this year, but with this action, repayment will be delayed until one year after payment was issued. After that first year, Medicare will automatically recoup 25 percent of Medicare payments otherwise owed to the provider or supplier for eleven months. At the end of the eleven-month period, recoupment will increase to 50 percent for another six months. If the provider or supplier is unable to repay the total amount of the AAP during this time-period (a total of 29 months), CMS will issue letters requiring repayment of any outstanding balance, subject to an interest rate of four percent.
To read the full press release form CMS, and for further details and resources, click here.