On The Hill

Health Update (March 30)

Mar 30, 2020 | SHARE

Trump Signs $2T COVID-19 Economic Relief Package

On Friday (Mar. 27) afternoon, President Donald Trump signed the $2 trillion coronavirus relief package, triggering the largest-ever injection of federal dollars into the U.S. economy.

Earlier Friday, the House approved HR 748, the “Coronavirus Aid, Relief and Economic Security Act” (CARES Act) by a voice vote, following a chaotic 24-hour scramble in which hundreds of lawmakers raced to return to Washington to block Rep. Thomas Massie (R-KY) from holding up the bill.

The legislation passed the Senate on Wednesday (Mar. 25) by a vote of 96-0.

The $2 trillion relief bill is designed to help unemployed workers and small businesses survive the economic shutdown as coronavirus continues to spread across the country. The CARES Act also aims to prop up American health care providers who are reaching their capacity.

The final legislation includes:

1.) Over $140 billion in appropriations to support the health system, including:

$100 billion for a new program to provide grants to hospitals, public entities, not-for-profit entities, and Medicare and Medicaid enrolled suppliers and institutional providers to cover unreimbursed health care related expenses or lost revenues attributable to the public health emergency resulting from the coronavirus
$16 billion to the Strategic National Stockpile to procure personal protective equipment, ventilators, and other medical supplies for federal and state response efforts

2.) Delaying the Medicare sequester until the end of this calendar year.

3.) Creating a 20 percent add on payment for inpatient treatment.

A link to a CHCG website update, that includes the full bill text of the CARES Act, and a number of section-by-section summaries can be found here.