EDIT: Apaarently it's not just covid-19 misinformation. It's any "misinformation" that can be reported. These reports go directly to Reddit admins, not just subreddit moderators.

Original post:

I'm still a moderator on a subreddit over there. I received a personal message addressed to all mods, informing me:

"We have updated the report flow to add “misinformation”: when you report a post or comment, or use the report flow you can now select “This is misinformation” (directly under the option for “This is spam”). As with any other report type, you should see these reports in your modqueue. They will also be surfaced directly to us in the same manner as spam reports are now. We recognize that misinformation is hard to spot and evaluate, but we believe having these reports will help you to make informed decisions about the content you allow in your communities. Additionally, the reports, and the actions that you take on them will be immensely helpful for informing our own actions at the platform level. Thank you for your support!"

https://old.reddit.com/r/ModSupport/comments/g21ub7/misinformation_and_covid19_what_reddit_is_doing/