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WorksheetsCOVID Accelerated or Advanced Payments (Part A)
Total questions: 10
Worksheet time: 5mins
An Accelerated or Advance Payment is a payment intended to provide necessary funds to assist Medicare providers when there is a disruption in claims submission and/or claims processing.
True
False
Beginning on April 26, 2020, National Government Services (NGS), Medicare Administrator Contractor (MAC) is not accepting any new applications for the Accelerated or Advanced Payments.
True
False
Providers needed to request an Accelerated or Advanced Payment via what method?
Provider’s Medicare Administrator Contractor (MAC)
Centers for Medicare and Medicaid
State Agency
How do Medicare Accelerated or Advanced payments work?
Payment in advance that will be paid back over a time frame
Advanced payment that will not need to be paid back
Accelerated and Advanced payments not paid within a certain time frame will automatically accrue interest at the Treasury rate at what amount?
10.25%
9.625%
Not known at the present time
The Accelerated or Advanced payments were a direct result of COVID-19 and need to be repaid back to the MAC.
True
False
All providers qualify for the Accelerated or Advanced Payment.
True
False
Repayment of these Accelerated or Advanced Payments will be scheduled as soon as 120 days after the date of issuance of the payment.
True
False
If Accelerated or Advanced Payment is not made within 7 months (Part B providers), interest will begin to accrue.
True
False
Repayment can be sent to National Government Services (NGS) at any time.
True
False
