Good news for home care providers: Designated funds from the recently passed $1.9 trillion stimulus package should be coming your way soon.
Among the provisions in the American Rescue Plan Act, which President Biden signed into law on March 11, was a 10% bump in the Federal Medical Assistance Percentage (FMAP) for state expenditures on home- and community-based services.
The increase in the FMAP was scheduled to begin on April 1, noted Brendan Flinn, director of Medicaid and HCBS policy for LeadingAge, during a recent coronavirus update call.
While the association has not yet seen guidance on the parameters of the money, “We expect to see that in coming weeks,” he said.
Also, some of the $350 billion worth of state and local aid contained in the legislation should be disbursed by around May 11. According to the legislation, 50% of the state and local aid would be distributed “no later than 60 days from the date of enactment.”