Apr 20, 2020
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
- How can a business have its PPP loan forgiven?
- What are Main Street loans? How are they different from PPP
- 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
- 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.