HHS provides $4.8 million to businesses in Prestonsburg under CARES Act

Through the fourth quarter of 2020, businesses in Prestonsburg received $4.8 million in health-related relief from the CARES Act issued by the Department of Health and Human Services.

According to numbers reported through the fourth quarter of 2020, businesses in Kentucky received $1.6 billion in health-related relief from the CARES Act issued by the Department of Health and Human Services. The largest recipient of funding in the state was St. Elizabeth Medical Center, Inc. with a total of $67.3 million. The average loan size in the city was $150,289 while the state’s average loan amount was $337,672.

Of the money distributed, $30 billion went out automatically to health providers based on previous year medicare payments. If the money wasn’t returned within 90 days the provider is then automatically entered into the repayment terms that are issued by HHS. With the money going out automatically and the rules constantly changing, some of the businesses that received the money weren’t eligible to receive it once the final rules were sent out.

According to the Department of Health and Human Services, this information represents the list of providers that received a payment from the General Distribution, High Impact Targeted Allocation, Safety Net Hospitals, Non-Medicare, Rural Targeted Allocation and/or the Skilled Nursing Facility Targeted Allocation of the Provider Relief Fund and who have attested to receiving one or more payments and agreed to the Terms and Conditions as of July 8, 2020.