We got ahold of a letter that shows CVS Health will give back $43.3 million in coronavirus stimulus cash
CVS Health received $43.3 million from the Provider Relief Fund created under the CARES Act. On Tuesday, it told the Trump administration that it would be returning the full amount.CVS Health received $43.3 million in coronavirus stimuls funds from the federal government, but is returning the money.
"We have made the decision to return the funds and forgo participation in subsequent disbursements," Merlo said in a letter dated May 19 to Alex Azar, the secretary of the Department of Health and Human Services. "In doing so, we hope to help HHS provide additional support to other providers who are facing significant financial challenges as a result of the pandemic."
HHS determined that the first $30 billion out of the $100 billion fund would go out automatically, though providers can decide whether they want to keep the funding. Health officials said they made this choice to get the money out quickly.A leaked document from Senate Democrats provides clues on how the federal government will allocate $100 billion from the coronavirus stimulus to hospitals
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