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Wealthy US hospitals tap into COVID relief funds to cover costs

After collecting billions of dollars in the United States coronavirus aid, many of the nation’s wealthiest nonprofit hospitals are now tapping into disaster relief funds that critics say they don’t need. The money from the Federal Emergency Management Agency (FEMA) is going to some large health systems that have billions of dollars in cash reserves and investments, according to government records reviewed by Reuters news agency. FEMA has received nearly 2,200 aid requests from hospitals and thus far has approved about 15 percent of them, for a total of $894m, the agency told Reuters news. Hospitals can request more money as US infections surge, and FEMA officials expect total aid awards to rise significantly.

Wealthy hospitals rake in U S disaster aid for COVID-19 costs

Wealthy hospitals rake in U.S. disaster aid for COVID-19 costs Reuters 12/29/2020 By Chad Terhune (Reuters) - After collecting billions of dollars in U.S. coronavirus aid, many of the nation’s wealthiest nonprofit hospitals are now tapping into disaster relief funds that critics say they don’t need. The money from the Federal Emergency Management Agency (FEMA) is going to some large health systems that have billions of dollars in cash reserves and investments, according to government records reviewed by Reuters. FEMA has received nearly 2,200 aid requests from hospitals and thus far has approved about 15% of them, for a total of $894 million, the agency told Reuters. Hospitals can request more money as U.S. infections surge, and FEMA officials expect total aid awards to rise significantly.

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