The Coronavirus Aid, Relief, and Economic Security, or CARES, Act was passed to give businesses big and small, along with their employees, a package of lifelines to get through our current unprecedented times. In this shelter-in-place episode, Ed and Scott analyze the potpourri of relief the CARES Act offers employers and their group health plan enrollees, including coverage mandates, tax credits and loans – each with its own terms and conditions.

• What healthcare plan mandates are included in the CARES Act? What plans do they apply to? When do the mandates expire?
• Can plans offset the cost of the mandates by increasing cost sharing on or eliminating other benefits? (Hint: The feds are not a fan of this thinking.)
• If an employer amends the plan based on the mandates, do they need to provide advance notice?
• How do all these tax credits and loans work? And how do they benefit the employer AND the employee?
• Which employers are eligible for the Paycheck Protection Program (PPP)? How much can a business get? Is there even any money left?
• How can a business have its PPP loan forgiven?
• What are Main Street loans? How are they different from PPP loans?
• Under the payroll tax deferral provisions of CARES, can an employer simply choose to not pay its payroll taxes and not worry about it? (No – you can still go to jail for not paying your taxes!)
• Why aren’t you guys funny anymore?

Click here to access the fantastic guide to the PPP loan basics from Scott and the Lockton Government Relations team.