CMS and states launch $275 million initiative for Nursing home workforce
The short version
- Nurses can get up to $40,000 for student loans and $10,000 in stipends.
- You must commit to three years in a qualifying rural or short-staffed facility.
The Centers for Medicare and Medicaid Services, the federal agency running Medicare and Medicaid, and participating states just launched a $275 million initiative to recruit and retain nurses in nursing homes. Students and licensed nurses can qualify for up to $40,000 in student loan repayment and a $10,000 stipend.
In exchange, nurses must serve in a qualifying nursing home for three years. Such facilities would likely be in a rural community or area with higher labor shortages, according to a statement from CMS. A limited number of state agency nursing home inspector roles also qualify for the initiative.
The Nurses for Nursing Homes initiative is funded through civil monetary penalties collected by states and CMS from nursing homes and is expected to support more than 4,000 nurses across the country. And nurses can receive both the stipend and the loan repayment amount if they meet the requirements for each benefit, CMS said.
CMS has committed $100 million, and states are committing at least an additional $175 million. LeadingAge, the association representing non-profit aging services providers, has been working with CMS and state partners to connect eligible nursing homes with the organizations implementing the program, the association told Skilled Nursing News.
As participation begins, LeadingAge expects to highlight opportunities to expand eligibility, strengthening and refine the initiative for the future. Qualifying nursing homes are Medicare-, Medicaid-, or dually-certified buildings. CMS determined which facilities qualify based on the amount of funds available for each state and estimated the number of nurses that could be recruited, while ensuring eligibility for all nursing homes in rural areas.
