Please adhere to the following resources for information regarding economic stimulus options that best fit your financial needs and concerns:

Economic Stimulus for Small Business Relief:

Economic Stimulus for Individual Relief:

Healthcare Options for Individual Relief:

For information regarding the second economic relief stimulus package - The CARES Act, please see below:

   The CARES Bill: Health

Republicans and Democrats have unveiled legislation to provide emergency relief to workers, families, small businesses, and distressed industries. The full package is big, targeted, and will make a difference. Here are the health details.

Key points:

 • Gets more resources into the hands of our providers quickly

 • Expands access to care for patients

• Support our public health response

• Removes limitations employers and individuals face on their HSA-
eligible plans

   What you need to know:

• Treatment for COVID-19 Patients is a Priority: To help patients, the bill invests in our medical system in several ways:

First, the bill provides money for providers through Medicare:

    1. Allows for accelerated Medicare payments. This will help hospitals, especially those facilities in rural and frontier areas, get the reliable and stable cash flow they need to help them maintain an adequate workforce, buy essential supplies, create additional infrastructure, and keep their doors open to care for patients. 

    2. Creates a 20 percent add on payment for inpatient treatment
• Delays the sequester until the end of this calendar year, which gives providers both money and certainty

• Second, the bill provides over $140 billion in appropriations to support our health system, including:

    1. $100 billion for a new program to provide grants to hospitals, public entities, not-for-profit entities, and Medicare and Medicaid enrolled suppliers and institutional providers to cover unreimbursed health care related expenses or lost revenues attributable to the public health emergency resulting from the coronavirus.

    2. $16 billion to the Strategic National Stockpile to procure personal protective equipment, ventilators, and other medical supplies for federal and state response efforts

• $11 billion to support research and development of vaccines, therapeutics, and diagnostics to prevent or treat the effects of coronavirus

   4. $4.3 billion to the CDC to support federal, state, and local public health agencies to prevent, prepare for, and respond to the coronavirus

   5. $185 million through HRSA to support rural critical access hospitals, rural tribal health and telehealth programs

   6. $200 million for CMS for priorities like assisting nursing homes with infection control and support states’ efforts to prevent the spread of coronavirus in nursing homes

• Finally, the bill pumps new resources into our public health, education and emergency preparedness infrastructure:

   1. Funds community health centers through November 30, 2020 2. Reauthorizes key rural grant programs to strengthen rural
community health

 • Invests $30.750 billion into a flexible Education Stabilization Fund to help states, school districts and institutions of higher education for costs face increased costs as they deal with the safety and health issues related to coronavirus as well as continue to develop plans for providing online learning for all students

   1. Takes steps to address supply shortages, including in the Strategic National Stockpile and removing legal barriers to the production of more masks

   2. Removes barriers to allow the Biomedical Advanced Research and Development Authority (BARDA) to more easily partner with private sector on research and development and to allow BARDA to expedite diagnostics and vaccines

• Unleashes the Full Might of America’s Health Care

Innovation: The bill contains a significant expansion of telehealth by allowing patients to see doctors with whom they don’t already have a relationship, connecting folks on home dialysis with providers, and allowing federally qualified health centers and rural health centers to participate.

o The bill also expands telehealth services for home health and hospice.
o Overburdened physicians need relief, so nurse practitioners and physicians’ assistants will be able to prescribe home health services.
o Finally, the bill makes it easier for post-acute facilities to be fully utilized during this crisis.

 • Eliminates Red Tape for Employers and Individuals: The bill ensures that Americans are able to use all tax-favored health care accounts, like HSAs and FSAs, to buy over-the-counter medicines tax- free without a prescription. In addition, high deductible health care plans with HSAs will now be able to provide coverage pre-deductible for telehealth services.

The Details: 

The CARES Act provides unprecedented resources to providers during these unprecedented times. Moreover, patients who need care should be able to receive care, especially those seniors who need to be able to communicate with their providers in the lowest risk setting possible. Easing the rules that permit access to telehealth and increasing provider capacity would help maintain continuity of care and free up time and inpatient resources to treat coronavirus patients.

   The CARES Bill: Tax

Republicans and Democrats have unveiled legislation to provide emergency relief to workers, families, small businesses, and distressed industries. The full package is big, targeted, and will make a difference. Here are the tax details.

Key points:

• Workers, families, and small businesses come first.

• $1,200 checks will be on their way to American families.

• Provides vast resources to keep small businesses open, including assistance with cashflow and providing credits for employers to keep employees on payroll.

   What you need to know:

• Money for American families. This comes in the form of a one-time tax rebate check of $1,200 per individual and $500 per child for those with a valid SSN. There are no earned income or tax liability requirements to receive these rebate checks. The full rebate amount is available for those with incomes at or below $75,000 for individuals, $112,500 for head of household, and $150,000 for married couples.

• Loosens Rules on Retirement Accounts. Older Americans that are subject to mandatory minimum distributions from their retirement accounts would be able to keep their capital invested instead of being forced to cash out to draw on that capital without penalty, which would be suspended for 2020. Similarly, the bill also waives the 10% penalty on coronavirus-related early distributions from 401(k)s and IRAs, which applies to distributions made at any time during 2020.

• Provides Another Option for Employers to Keep Connected to Their Employees. Employers of all sizes that face closure orders or suffer economic hardship due to the coronavirus crisis that continue to pay employees that are furloughed may be eligible for a 50% credit on up to $10,000 of wages paid to those employees. This will help workers keep their jobs, help local businesses ride out this storm, and ensure that furloughed workers have jobs to return to.

• Delays Payroll Tax Payments for Employers: Employers would be able to delay the payment of their 2020 payroll taxes until 2021 and 2022, leading to approximately $300 billion of extra cash flow for businesses.

• Restores Supports for Businesses Suffering Losses: The bill also allows businesses to carry back losses from 2018, 2019, and 2020 to the previous 5 years, which will allow businesses access to immediate tax refunds.

• Encourages Businesses to Invest in Improvements: The bill would fix cost recovery for investments in Qualified Improvement Properties, which will allow businesses that made these investments in 2018 and 2019 and receive tax refunds now.

The Details: 

Eligibility for checks from the IRS will be based on 2018 and 2019 returns, and for Social Security (retirement and disability) and Railroad Retirement beneficiaries, they will use information from the Social Security Administration and Railroad Retirement Board.
   The CARES Bill: Unemployment

Republicans and Democrats have unveiled legislation to provide emergency relief to workers, families, small businesses, and distressed industries. The full package is big, targeted, and will make a difference. Here are the unemployment insurance details.

Key points:

• Expands the size and scope of unemployment benefits

• Includes relief for workers who are self-employed, as well as independent contractors

• Ensures these changes are temporary

   What you need to know:

• Includes $250 billion to Expand Unemployment Benefits: Provides economic relief and much-needed support for workers by making a significant investment in unemployment benefits.

• Unemployment Benefits for More Americans: Makes sure self- employed and independent contractors, like Uber drivers and gig workers, can receive unemployment during the public health emergency. The bill also includes support to state and local governments and nonprofits so they can pay unemployment to their employees.

• More Money for a Longer Period for More Workers: Makes benefits more generous by adding a $600/week across-the-board payment increase through the end of July. In addition, for those who need it, the bill provides an additional 13 weeks of benefits beyond what states typically allow.

• Temporary Provisions: The expansion in unemployment benefits expires at the end of 2020 in recognition of the temporary nature of this challenge.

The Details:

State unemployment offices are experiencing an unprecedented spike in claims and many workers are not covered under regular state unemployment laws. Filings for U.S. unemployment benefits are poised to surge to more than 2 million, according to a Goldman Sachs analysis of preliminary reports across 30 states. The stimulus package will make a tremendous difference for keeping workers afloat..
   The CARES Bill: Helping Small Business

Republicans and Democrats have unveiled legislation to provide emergency relief to workers, families, small businesses, and distressed industries. The full package is big, targeted, and will make a difference. Here are the small business details.

Key points:

• A strong “paycheck protection” program means small businesses have an incentive to keep employees on payroll.

• The bill also offers extensive debt relief

• The Small Business Administration is also required to enact these programs with regulations no later than 15 days after the Act is signed into law.

   What you need to know:

• Paycheck Protection: 

   Forgiveness For Small Business Loans for Keeping Employees: The bill creates a “paycheck protection program” for small employers, self-employed individuals, and “gig economy” workers, with $350 billion to help prevent workers from losing their jobs and small businesses from going under due to economic losses caused by the COVID-19 pandemic. The “Paycheck Protection Program” would provide 8 weeks of cash-flow assistance through 100 percent federally guaranteed loans to small employers who maintain their payroll during this emergency. If the employer maintains payroll, the portion of the loans used for covered payroll costs, interest on mortgage obligations, rent, and utilities would be forgiven, which would help workers to remain employed and affected small businesses and our economy to recover quickly from this crisis. This proposal would be retroactive to February 15, 2020, to help bring workers who may have already been laid off back onto payrolls.

• Small Business Contractors Also Get Protection: Federal agencies would be required to extend contract performance periods and promptly play small business contractors Small business contractors impacted by COVID-19.

• Debt Relief: For six months, SBA is required to pay all principal, interest and fees on all existing SBA loan products including 7(a), Community Advantage, 504, and Microloan programs for six months.

• Timely: The bill requires that SBA enact these programs with regulations no later than 15 days after the Act is signed into law.

The Details: 

Providing more cash flow to businesses and incentives to keep employees on payroll is a much-needed life-support program for the economy.
   The CARES Bill: Protecting Americans’ Livelihoods

Republicans and Democrats have unveiled legislation to provide emergency relief to workers, families, small businesses, and distressed industries. The full package is big, targeted, and will make a difference. Here are the details on how this package will protect Americans' livelihoods.

Key points:

• A total of $500 billion in emergency relief to distressed businesses, as well as state and municipalities

• Provides flexibility for local businesses to team up with local banks

• Reinforces commonsense safeguards against abuse

   What you need to know:

• Unleashes the Fed’s Tools to Provide Liquidity: $425 billion for loans, loan guarantees, and investments in support of facilities established by the Fed under 13(3) authority for purpose of providing liquidity to businesses, states, or municipalities through purchasing obligations or other interests directly from issuers of such obligations or other interests.

• Loans, Not Bailouts, for Major Industry: Direct lending to the following: $50 billion for passenger airlines, $8 billion for cargo airlines, and $17 billion for businesses critical to “maintaining national security.”

• Protecting Workers, Not Boosting Executive Compensation:Employee and executive total compensation may not exceed $425,000, stock buybacks are prohibited during the duration of the loan, and borrowers must maintain exiting payroll as of March 13 

• Giving Businesses and Banks Flexibility to Work Together: The bill cuts red tape to ensure that banks have room to provide the resources businesses need.

The Details: 

Workers need to be able to return to their livelihoods once this crisis is over. The Senate’s bill ensures that loans will be made available to key industries with strong taxpayer protections, and ensures that businesses will have access to the resources they need from local banks.