Risk Management, Total Rewards
The Impact of the CARES Act on Individuals
On March 27, President Trump signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) into law. This Act comes as a continued response to the Coronavirus 2019 (COVID-19) crisis and is intended to provide economic relief to employers and individuals through $2.2 trillion in federal funding. The CARES Act supports businesses by providing paycheck protection, new loans and current loan forgiveness and provides economic stabilization for severely impacted industries. As the number of critically ill COVID-19 patients surges, the Act supports the health care system by providing financial assistance for medical supplies and coverage, as well as expanded telehealth and COVID-19 testing provisions. For individuals, the CARES Act provides direct monetary payments to Americans and several key changes to employee benefits. Check out the infographic below for a few of the most impactful provisions:
Exude is committed to monitoring the spread of COVID-19 and helping employers and employees minimize risk. Our team is available 24/7/365 to ensure you have the support you need during this time. If you have any questions about your employee benefits, please contact your Exude Client Care Specialist. For more information and frequent updates on the COVID-19 crisis, visit our dedicated resources page.