BayCare discloses COVID payments
June 30, 2020 - BayCare Health System received about $102 million from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed by Congress in March to provide economic assistance to individuals and businesses and to preserve jobs. BayCare, based in Clearwater and the largest nonprofit healthcare provider in the Tampa-St. Petersburg area, disclosed the CARES funding in a June 29 report to bondholders. BayCare also said it received $317 million in Medicare Advanced Payment funding. That's a temporary loan program to increase cash flow to Medicare suppliers and providers impacted by the COVID-19 pandemic. The Centers for Disease Control said it is currently evaluating the program.