COVID-19 Update: CARES Act and Other Resources

Posted by Matt Schwartz on Wed, Apr 1, 2020 @ 13:04 PM

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Last week, we shared information in our blog post about the impact of COVID-19 on business and benefits, namely updates to carrier guidelines and benefits, and the initial response of both federal and local governments.  Plus, we included a wide range of resources and support that had come to fruition. Those links remain accessible.

As we post this brief update on Wednesday, April 1, the situation and solutions continue to evolve – we hope this can help you better navigate – stay tuned and feel free to contact us anytime for further support or guidance.

Any other COVID-related benefit changes?

Beyond the law requiring COVID-19 testing to be treated as a preventive service, both Cigna and Humana decided to waive ALL treatments costs related to the coronavirus as well.  See Humana’s press release, as well as the latest press release from Anthem. Please see Benefits Pro’s basic recap of 10 considerations for benefits and compensation.

What new information is available to me?

Here are several new links to information, resources and learning events related to the current outbreak:

  • Cares Act summary – new law signed 3/27 – 2 trillion-dollar package to help workers and bail out industries most impacted by COVID-19 – offers most impacted small businesses an opportunity for forgivable loans
  • CARES Act Webinar – led by UBA law firm partner Fisher Phillips – high demand program recorded March 24, just before the DOL issued guidance (implementing regulations remain pending, even at this time)
  • CARES Act Q&A – led by UBA law firm partner Fisher Phillips – again, from March 24 so excellent yet dated
  • CARES Act Q&A – basic info from the U.S. Chamber of Commerce about eligibility, qualifications, amounts and forgiveness of loans – helpful to understand how the CARES Act may apply to your current situation
  • Small Business Owner’s Guide – another nice summary we ran across that covers all components of the CARES Act, not just the “paycheck protection program” offering likely-forgivable small business loans
  • Communicating in a Crisis – webinar Thursday, April 2, 2-3 pm, hosted by GLI – will give decision-makers timely advice to better navigate COVID-19 and build confidence among employees, clients and others
  • Coronavirus scams – be vigilant about coronavirus scams and gain cybersecurity tips – bad actors are taking advantage of the fear surrounding the outbreak so you (and your people) must remain as cautious as ever

We continue to urge our associates – and encourage you to remain vocal as well – to do our part to stop the spread, namely by avoiding public places, practicing social distancing and taking the “unknown” nature/threat of this virus seriously.  Only by heeding the advice of elected officials and health experts will we turn the corner and bring this challenging time to a close.  Thanks for all that you do to support those efforts!

Please note, this information is provided for educational purposes only; it’s not intended to provide legal advice. Consult with your own attorney before taking any action.

Topics: Worksite Wellness, Employee Benefits, Business Strategy, COVID-19