CVS returns $43.4M in COVID-19 relief funding to feds

Coronavirus
CVS AP 2018_639434

PROVIDENCE, R.I. (WPRI) ─ Woonsocket-based CVS Health has opted to return $43.3 million in COVID-19 relief funding to the federal government, which it received as part of the CARES Act.

In a letter to Secretary of Health and Human Services Alex Azar, CEO of CVS Health Larry Merlo said the company would also forgo any subsequent disbursements.

Read: CVS Health letter to Secretary Azar on relief funding »

“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,” Merlo wrote.

Merlo said CVS Health did not solicit the federal funding and received it as part of an automatic distribution by HHS from the CARES Act Provider Relief Fund.

“In my view, returning these funds is part of CVS Health’s overall plan to do everything we can to
help the communities we serve respond to the pandemic,” Merlo said.

CVS Health recently opened 51 drive-thru COVID-19 testing sites across five states and expects to have 1,000 sites operational by the end of May.

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