Senate Passes The COVID-19 3.5 Emergency Relief Bill

Published in Member Communities on April 21, 2020

This afternoon, the Senate passed, by unanimous consent, the $484 billion agreement to deliver more pandemic aid to small businesses and hospitals in addition to federal, state, and local coronavirus testing. The House is expected to return Thursday for an in-person vote.

The measure — originally meant to serve as an “interim” small business fix before lawmakers embarked on negotiations for another trillion-dollar-plus relief package — will provide $350 billion for the depleted Paycheck Protection Program (PPP), according to a summary of the legislation. Click here to see the full bill language. Separately, the bill increases the authorization level for the program by $310 billion.

Specifics:

  • $310 billion unrestricted for PPP
  • $60 billion in PPP set aside for smaller institutions (banks and credit unions)
    • $30 billion for assets less than $10 billion
    • $30 billion for assets between $10 billion and $50 billion
  • $50 billion for EIDL loans
  • $10 billion for EIDL Advance grants 
  • $2.1 billion for SBA administrative expenses

Health

  • $75B for hospitals (same language as PHSSEF from CARES)
  • $25B for testing [$11B of this will be distributed to states; the rest will go to CDC, BARDA, FQHC, NIH, NCI (they are doing the serology work), and others for research, development, and deployment of testing.]

This is great news for DMEPOS suppliers as it means additional funding availabilities. We’ve heard from many of you that have not received PPP funding from your bank. If you haven’t received any PPP dollars yet, it is recommended that you reach out to your credit union or bank this week to ensure you are first in line to receive these dollars. 

From Our Experts

Outcomes Driven by Clinical Respiratory Software and Analytics thumbnail Outcomes Driven by Clinical Respiratory Software and Analytics Patient outcomes are rapidly emerging as a powerful growth strategy. Collecting patient-focused measures and transforming that data into clinical metrics is the key to success in the respiratory DME model going forward. Limb Loss and Preservation Registry: What O&P Practitioners Need to Know thumbnail Limb Loss and Preservation Registry: What O&P Practitioners Need to Know The Limb Loss and Preservation Registry (LLPR) has been talked about for the past two to three years. Read more on why a registry is important and how to get involved. VGM's 21st Heartland Conference Brought the HME Community Together thumbnail VGM's 21st Heartland Conference Brought the HME Community Together VGM hosted its annual event from June 13-15 in Waterloo, Iowa. Iowa's Governor Kim Reynolds Signs the Work Comp Prosthetic Bill thumbnail Iowa's Governor Kim Reynolds Signs the Work Comp Prosthetic Bill Iowa bill H.F.2411, an act relating to replacements of permanent prosthetic devices for injured workers, signed by the Governor Reynolds. Complex Rehab Technology and Outcomes-Based Healthcare thumbnail Complex Rehab Technology and Outcomes-Based Healthcare The Complex Rehab Technology (CRT) industry, along with many others in the DME space, is moving to an outcomes-based or performance-based system versus the fee-for-service system we have been in for decades. DMERT Group Names Wayne Grau as Chair of Executive Board thumbnail DMERT Group Names Wayne Grau as Chair of Executive Board The DMERT Group has announced Wayne Grau as the new Chair of their Executive Board. Greg Packer, president of U.S. Rehab and previous Chair of the DMERT Group, announced his resignation to be effective upon the naming of a successor. Wound Awareness on Moist Wound Environment thumbnail Wound Awareness on Moist Wound Environment When thinking about wound care awareness month, moist wound healing popped in my brain! Keeping a wound moist during the healing process is one of the most important aspects of wound healing. A Message from OPGA thumbnail A Message from OPGA It is with deep sadness that we announce the passing of Todd Eagen, president of the Orthotics & Prosthetics Group of America.