Latest Stimulus Package Now Law
House passes and President signs into law $484 billion worth of funding that includes $75 Billion in relief for healthcare providers.
- By David Kopf
- Apr 27, 2020
President Donald J. Trump, joined by Vice President Mike Pence, Cabinet members and senior legislators, signs H.R. 266 – the Paycheck Protection Program and Health Care Enhancement Act Friday, April 24, 2020, in the Oval Office of the White House. (Official White House Photo by Shealah Craighead)
President Trump signed the Paycheck Protection Program and Health Care Enhancement Act into law after the House upvoted the legislation, which provides a total of $484 billion in relief, with $75 billion going to healthcare providers.
Specifically, the Act adds $75 billion to the Public Health and Social Services Emergency Fund (PHSSEF), which was established by the previously passed CARES Act that has serving healthcare providers, including HME providers.
To access the additional $75 billion for the PHSSEF, HME providers must submit an application demonstrating a need for funding. The funds are intended to help providers by reimbursing expenses specifically related to measures they have taken to respond to COVID-19.
The relief bill includes $310 billion to the Paycheck Protection Program (PPP) and adds $50 billion for Economic Injury Disaster Loans (EIDL) and $10 billion for EIDL Advance grants.
The full text of the bill can be read at bit.ly/3cDC52Z.
Another economic stimulus bill is expected to follow.
David Kopf is the Publisher and Executive Editor of HME Business and DME Pharmacy magazines. Follow him on Twitter at @postacutenews.