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CONGRESS OVERWHELMINGLY PASSES PAYCHECK PROTECTION PROGRAM AND HEALTHCARE ENHANCEMENT ACT INCLUDING $75 BILLION IN ADDITIONAL PROVIDER RELIEF FUNDS

On April 24, 2020, President Trump signed the Paycheck Protection Program and Healthcare Enhancement Act (the Act), which had overwhelmingly passed both chambers of Congress on a bipartisan basis. 

The Act provides an additional $484 billion in funds, most of which was directed to replenish the already depleted Paycheck Protection Program for small businesses impacted by COVID-19.  

The Act also provided $75 billion in additional Provider Relief Fund payments to hospitals and healthcare providers to support COVID-19 related services and lost revenue and $25 billion to states and localities, the CDC, the NIH and other entities for necessary expenses to develop, purchase, and administer COVID-19 tests. 

In other developments, HHS announced that it was extending the time for hospitals to apply for COVID-19 high impact payments until 3:00 pm on Saturday, April 25, 2020. These funds were part of the $10 billion in Provider Relief Fund monies allocated for providers suffering the greatest impact from treating COVID-19 patients. 

The text of the Act is linked here. The text of the HHS announcement expanding the deadline for the high impact payments is linked here

For Whatley Kallas, LLP’s earlier articles on allocation of the Provider Relief Fund, click here and here.