This week the White House will be requesting from the U.S. Congress an additional $250 billion for the Paycheck Protection Program (PPP). The applications from small businesses since Friday has been overwhelming. Congress may act as early as this week to shore up the program but Democrats have some additional funding demands that they want added to the program.
Yesterday the Treasury Department released new and unique Frequently Asked Questions (click to download) that it has received since the program’s inception. They deal with everything from more details on what size businesses qualify to annual salary compensation exclusion clarification.
The association for health insurance providers, America's Health Insurance Plans (AHIP), has compiled a list of major new coverage practices by its member companies related to the testing and treatment of the coronavirus pandemic (click here). According to the AHIP, providers are eliminating copays and some other patient cost sharing. For company specific information click this link:
General Motors has finalized plans to produce 30,000 ventilators by the end of August after added pressure from President Trump who invoked the Defense Production Act. In the short term, over 6,000 ventilators are expected to be delivered by June as a result of GM’s partnership with a ventilator manufacturer. The total contract price is estimated at nearly $500 million.
Stay safe and our thoughts are with those who will not be with family during this Passover.