Published: April 24, 2020
President Donald Trump today signed H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act, which replenishes financial support programs created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act and provides additional funding for COVID-19-related testing. ASCA recommends that ASCs contact their business partners who assist with tax and lending issues to discuss how the options created by this legislation might apply to an individual ASC. The full text of the legislation is available on Congress.gov.
Specifically, this legislation provides an additional $75 billion to the Public Health and Social Services Emergency Fund, which has been used to reimburse ASCs and other healthcare providers for lost revenues and additional costs resulting from the pandemic. Additionally, the bill replenishes $310 billion to the Paycheck Protection Program but does not include changes to the Small Business Administration’s affiliation rules. Finally, $25 billion is provided for COVID-19 testing, including $11 billion dedicated for states to purchase and use tests. To obtain the funds, states and localities are required to submit plans on how resources will be used for testing and easing COVID-19 community mitigation policies.
Contact Steve Selde for more information.