The New $1.9T Stimulus Bill Increases HCBS Funding Boost
HCBS aid raises from 7.35% to 10% for the year
With the new $1.9T stimulus bill now passed into action, it’s important to understand how that financial aid will be allocated to the Allied healthcare community.
A notable update to the new bill involves the Federal Medicaid Assistance Percentage (FMAP) boost to home-and-community-based services (HCBS). Originally carrying a 7.35% hike in funding, the stimulus bill has now increased that boost to 10%, to be dispersed from April of 2021 through March of 2022.
So, what will this affect health care providers? An article from Home Healthcare News (2021) highlights how the increased boost will help take the place of COVID-19 relief funds that have been largely exhausted over the last year. Since last spring, the CARES Act has helped provide over $175B to health care providers across the country. The increase will also add much-needed support to health care recruitment—a particular area of difficulty during the pandemic as candidate demand has risen.
Do you think the FMAP funding boost could benefit your facility in 2021-2022? Reach out to us to discuss the potential of expanding into home-and-community-based services or call 800-236-8038 to connect with our allied team.