SBA Announces PPP Loan Forgiveness 

NAHC Report

Earlier this month, the Small Business Administration (SBA) announced an important deadline extension for certain Paycheck Protection Program (PPP) borrowers that could impact many entrepreneurs and small business owners.

Specifically, the SBA has set a new March 3, 2024 deadline for defaulted (PPP) borrowers with loans under $100,000 to apply for forgiveness. The new application deadline reflects a 60-day goodwill exception period dating back to January 1 to allow borrowers more time to get in good standing with the SBA. After this period, borrowers may incur non-forgivable fines, fees and be subject to other collection measures. 

NAHC has been contacted by the SBA to communicate the latest developments regarding these COVID relief programs. The SBA urges home health, home care and hospice providers to apply for PPP loan forgiveness or verify that their loans have already been forgiven through SBA before the March 3rd deadline. The SBAhas seen especially high rates of outstanding defaulted loans among home health care and hospice borrowers.   

If you are not sure about the status of your PPP loan, check here

The goal for the SBA is to help small businesses restore their good standing, improve credit scores, and remain eligible for future financial assistance.

Borrowers with defaulted PPP loans who have not applied for forgiveness by March 3rd, 2024 may accrue non-forgivable interest and fees or face other collection efforts. 

  • Apply for Forgiveness Today: The SBA urges PPP borrowers to apply for loan forgiveness without delay.  
    • Qualified borrowers with loans $150,000 and below can apply for forgiveness directly with our Direct Forgiveness portal, which takes most borrowers less than 15 minutes. Others should work with their lenders or contact SBA directly. 
    • Borrowers who need additional assistance can contact SBA at our dedicated forgiveness call center: 877-552-2692. The call center is open Monday through Friday from 8:00 a.m. – 8:00 p.m. ET. 
  • Additional costs for delinquent borrowers: Any borrowers who have not applied to have their PPP loan forgiven by March 4th may face additional non-forgivable fines, fees and other collection efforts.  
 

Credit for Caring Introduced in Both Houses of Congress

NAHC Report

A bipartisan coalition of U.S. Senators and Representatives has reintroduced the Credit for Caring Act (S. 3702, H.R. 7165), a bill intended to bolster support for family caregivers nationwide. Spearheaded by Senators Michael Bennet (D-CO), Shelley Moore Capito (R-WVA), Elizabeth Warren (D-MA), Susan Collins (R-ME), Maggie Hassan (D-NH), and Lisa Murkowski (R-AK), alongside Representatives Linda Sánchez (D-CA-38) and Mike Carey (R-OH-15), this legislation targets the daunting financial challenges confronting millions of family caregivers.

Family caregivers are unsung heroes, balancing work and family responsibilities while providing essential care to their loved ones. Often, this commitment comes at a significant personal cost, both emotionally and financially. Recognizing this, the Credit for Caring Act proposes a federal tax credit of up to $5,000 for eligible working family caregivers.

Senator Bennet emphasized the critical role caregivers play in the lives of their loved ones and the need for Congress to support them financially. Senator Capito, drawing from her personal experience caring for her parents, highlighted the emotional and financial toll caregiving can take, underscoring the importance of this bill in easing caregivers’ burdens.

With over 48 million caregivers in the United States, the need for support is undeniable. The Credit for Caring Act aims to assist caregivers by covering out-of-pocket expenses such as home care, adult day care, and transportation. By providing a nonrefundable tax credit adjusted for inflation, the bill seeks to ease the financial strain on caregivers, allowing them to focus more on providing care and less on financial concerns.

The National Association for Home Care and Hospice (NAHC) supports the Credit for Caring Act and looks forward to working with partnering stakeholders on its legislative success. The bill received significant consideration in the previous Congress but did not move forward due to cost concerns.  

We thank the bill’s sponsors for their advocacy on behalf of America’s overburdened caregivers and the people who rely on them.

 

Dementia Care Costs Lowest for Patients Living in Home Care Settings, Study Finds

McKnight’s Home Care / By Adam Healy
 
When it comes to long-term care for patients with dementia, staying home may be the least expensive option, according to a new study published in the Journal of the American Medical Directors Association.
 
Comparing data from more than 4,500 respondents aged 70 years and older, the researchers found that the median monthly out-of-pocket cost of long-term dementia care was only about $260 for those living at home and in their communities. Meanwhile, nursing home residents incurred about $1,465 in out-of-pocket care costs each month, and people living in other kinds of residential facilities — group homes, assisted living facilities or retirement communities — generally spent about $2,925 per month, according to the study.
 
Community-dwelling people with dementia also receive a lot of support from unpaid caregivers, the study found. People living in their community generally received the most unpaid help from caregivers compared to those living in nursing homes or other residential care facilities. About a quarter of individuals living at home or in their community received at least 200 hours of help from unpaid caregivers each month.
 
The researchers called for enhanced support for services that keep people out of residential care facilities, where the long-term costs of dementia care are highest. They also called for expansions of services such as the Program of All-Inclusive Care for the Elderly, which has been proven effective in keeping many nursing home-eligible people at home and in their communities. 
 
“Given the costs associated with residential care facilities like nursing homes and assisted living centers, increasing funding for home- and community-based care is a promising way to reduce the financial burden that long-term care places on older adults, particularly those with dementia,” study authors Jalayne Arias and Jing Li said in a statement.
 
Still, regardless of their setting of care, people with dementia tend to experience far higher long-term care costs compared to individuals without dementia, given “intensive needs for functional help and the length of the disease course.”
 
“Because dementia is such an expensive illness, it really is in a category of its own when we start to think about funding for long-term care,” said senior author Jalayne Arias, associate professor in the GSU School of Public Health. “If you compare people with dementia to their age-matched counterparts, they experience costs that are untenable to manage.”

 

J15 A/B MAC Contract Re-Award Announcement

On November 30, 2023, the Centers for Medicare & Medicaid Services (CMS) announced that CGS Administrators was re-awarded the Part A/Part B Medicare Administrative Contractor (A/B MAC) Jurisdiction 15 (J15) contract. This seven-year contract includes the states of Kentucky and Ohio. The J15 MAC is also responsible for Medicare Home Health and Hospice administration services in the District of Columbia and the following 15 states: Colorado, Delaware, Iowa, Kansas, Maryland, Missouri, Montana, Nebraska, North Dakota, Pennsylvania, South Dakota, Utah, Virginia, West Virginia, and Wyoming.

As the incumbent J15 MAC, it will be business as usual with no change in CGS contact information, systems, or processes. There will be no impacts to beneficiaries and providers, no workload number changes, and no system changes that would require payment floor releases or transition related dark days. CGS will continue working with our system maintainers as we currently do today.

CGS looks forward to continuing to serve all our key stakeholders and the Medicare Program through J15. Should there be any questions, please feel free to reach out to our J15 Implementation team at [email protected].

 

2024 Predictions: Three applications for AI in Home Healthcare

McKnight’s Home Care / By Preeti Kaur
 
Business is booming in the healthcare generative AI market. The sector is projected to reach a staggering $22 billion by 2032 — enabling technology providers, health systems, payers and others in the ecosystem to develop game-changing capabilities that are reshaping the field. 
 
Frankly, the timing couldn’t be better for the home healthcare sector, an area that is  particularly ripe for transformation. Variable schedules, provider shortages and a vulnerable aging population make managing logistics and providing care uniquely complex. In the face of these challenges, AI offers a compelling solution to streamline back-end tasks and enhance the patient-provider relationship.
 
So, while 2023 may have been the year of AI awareness, 2024 is set to be the year of AI advancement and widespread adoption. Although I’m encouraged by what we’ve already achieved, I’m more excited about the coming benefits that adoption at scale will provide both home care operators and patients.
 
Specifically, I envision AI revolutionizing the home healthcare industry in several important ways in 2024:
 
1. Improving personalization at scale
 
With nearly 3 million home healthcare patients across the nation, personalizing their individual experiences is a time-consuming and complex undertaking. However, AI excels at this task. It’s capable of analyzing vast amounts of data to identify individual preferences, behaviors, and patterns much more quickly and accurately than human workers.
 
Expect certain applications that are already in use to achieve more widespread adoption by home healthcare agencies in the next year, including:

  • Streamlining care plan creation: With AI, providers can quickly generate personalized care plans based on the patient intake call, health records, and knowledge of similar patient profiles. AI-generated plans may include granular details like care reminders, medication schedules, and even activity recommendations.

  • Optimizing care matching: AI handles the complex process of matching care providers with patients based on factors like scheduling needs, travel times, personality and skills, helping create more effective provider-patient assignments.

  • Coaching providers: Using call recordings and transcripts, AI can offer recommendations for care providers. This could include general areas of improvement (e.g., areas where additional training is needed) as well as recommendations that are specific to the patient-provider relationship (e.g., future conversation topics).


2. Supporting task prioritization
 
By 2025, the U.S. is expected to face a shortage of over 400,000 home health aides. As the aging population continues to increase, AI offers home healthcare providers the ability to alleviate time-consuming tasks, streamline provider workflows, and reduce costs. One such application includes task prioritization and reorganization to help providers and administrators navigate an overwhelming list of to-dos. This use case is currently in development and will hopefully make its way into home healthcare in 2024:

  • Optimizing task management: AI can analyze patient needs, biometric data, urgency and potential risks to create a daily list of to-dos for providers. Consider a patient who requires immediate attention due to a sudden change in their condition. AI can help restructure a provider’s daily schedule and find coverage if necessary, to ensure the patient receives prompt care. This capability isn’t just helpful for providers; it can also offer benefits for operators and desk-based administrative health workers.

  • Generating communications: While AI is already widely used to generate communications, this capability becomes even more valuable when used alongside task prioritization. If a provider needs to rearrange the order in which they visit patients, AI can provide a script to quickly communicate with patients. In the event of a provider change. It can also communicate thorough notes on the patient’s needs to substitute providers.

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