Wednesday, April 29, 2020

Additional $75 Billion Added to the Provider Relief Fund

Last week, Congress approved and the President signed the Paycheck Protection Program and Health Care Enhancement Act. The bill provides:
  • $75 billion for health care providers to support the need for COVID-19 related expenses and lost revenue. This funding is in addition to the initial $100 billion provided in the Provider Relief Fund as part of the CARES Act, bringing the fund total to $175 billion.
  • $25 billion for COVID-19 testing
  • $321 billion increase in the Small Business Administration’s Payment Protection Program (PPP) loan to allow for more small businesses to apply to receive aid.
All of the provisions above are in addition to the provisions that are in the CARES Act, that was signed into law by the President last month.

See our summary of various legislation passed by Congress and how it impacts long term care.

No comments:

Post a Comment