The company, which employs more than 10,000 nurses and provides healthcare services at its MinuteClinics, said it did not request the funds, which were meant to reimburse healthcare providers for expenses or lost revenues related to the COVID-19 pandemic.
“We have made the decision to return the funds and forgo participation in subsequent disbursements,” CVS Health President and CEO Larry Merlo wrote in a May 19 letter to HHS Secretary Alex Azar. “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.”
CVS Health received the funds from the first $30 billion of aid HHS sent out in April. HHS distributed the grants automatically based on historical Medicare fee-for-service reimbursements.
HHS confirmed that several healthcare providers have returned funds they received in April. Walmart said earlier this month that it returned $12.6 million in federal relief aid, and the owner of two closed hospitals is returning $3.5 million in grants.
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