Medicare Cost Report Deadlines Extended; Sequestration to Resume
We remind members that the Centers for Medicare and Medicaid Services (CMS) has extended the due dates for 2020 Medicare cost reports by two months. For providers operating on a fiscal year (FY) that ends Dec. 31st, this means that their 2020 cost report is due on Aug. 2, 2021 instead of June 1st. This extension applies to all provider types and does not require a request or notification to the Medicare Administrative Contractor (MAC). Organizations with FYs ending in September must file by April 30th, the October FY due date is June 1st, and those with a FY ending in November have until June 30th.
What has not been extended at this point is the suspension of Medicare sequestration. The federal cost savings provision that has reduced Medicare payments by 2 percent since 2011 was suspended last year in recognition of the financial challenges faced by Medicare providers during the pandemic. Without congressional or CMS action, the 2 percent reduction will resume on April 1st. We urge members to contact their members of Congress to express support for federal legislation that would suspend sequestration through the end of 2021 and address other Medicare reductions that would begin in 2022. Click here to learn more and to contact Congress.
Contact: Darius Kirstein, dkirstein@leadingageny.org, 518-867-8841