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March 30th, 2020
COVID-19 News & Updates
As you know, the Coronavirus is having an impact on business and society. Our thoughts and prayers are with all those impacted by the situation. We will be providing daily and weekly updates about COVID-19 to you. We hope that you find these interesting and informative.

SUMMARY OF THE PAYCHECK PROTECTION PROGRAM
UNDER THE CARES ACT

Friday, March 27, 2020

On Friday, President Trump signed the Coronavirus Aid, Relief and Economic Stimulus (CARES) Act. Under the CARES Act, the Small Business Administration will be offering loans under the Paycheck Protection Program (PPP) to small businesses. The PPP is designed to incentivize businesses to keep their employees and to not implement steep pay cuts during the coronavirus pandemic.
There are several details within the CARES Act that are unclear at this point. We also do not yet know exactly how the loan application process will work or what the timeline will be, although we know that the loans will be made through SBA approved banks. We expect certain details of the PPP to become clearer as the SBA develops its final regulations, which the legislation requires to be completed within 15 days.
Following are the major features of the Payroll Protection Program:
One of the most significant aspects of the recent legislation is the expanded access to liquidity that the SBA has been authorized to provide to businesses. Under two different programs most small businesses will have the ability to borrow funds needed to mitigate the economic downturn caused by the coronavirus outbreak.

What are the differences between the EIDL program and the PPP Cares Act? Here is a handy comparison chart to show the differences between the two programs.

UHC waiving Deductibles and Copays for COVID-19

UHC is following government regulations and waiving all cost share for testing and Telemedicine related to COVID-19. The FAQ Document below answers most questions and is updated daily.

President Trump Extends Federal Social Distancing Guidelines
Through April 30 

On Sunday, March 29, 2020, President Donald Trump announced he was extending the federal social distancing guidelines for an additional 30 days to help contain the spread of coronavirus disease 2019 (COVID-19). The original 15-day guidelines were set to expire March 30, 2020, but the 30-day extension keeps them in place through April 30.

As the COVID-19 pandemic continues to make a deeper impact across the United States, Cigna is taking another step forward to deliver access to simple, affordable and predictable health care.

Effective immediately, Cigna will waive customer cost-sharing and co-payments for COVID-19-related treatment through May 31, 2020.

For more about other steps they're taking, please read the press release by clicking here .

Linked communications are being sent to Cigna medical and pharmacy clients.
Stay positive: Here are 23 pieces of good news regarding COVID-19

Headlines continuously read distressing news regarding the virus so we can all take advanced safety measures to protect not just ourselves, but also those around us.
Yet, there's a handful of worldwide news doling out glimmers of hope in the midst of frightening times, and that's important too.

1. Of about 80,000 people sick from COVID-19 in China, more than 70% have recovered and been discharged from hospitals
2. Scientists have figured out how the novel coronavirus breaks into human cells, which will help significantly in developing treatments
3. Due to high levels of self-quarantine, Codogno, one of the two coronavirus clusters in Italy, has reported significantly fewer infections per day
4. Scientists in Canada have made massive breakthroughs in an effort to develop a vaccine
5. China is testing five different vaccine options, claiming it could have a vaccine ready by next month
6. Vaccination trials in the U.S. are already underway
7. A team of infectious disease experts calculated the fatality rate of Wuhan's coronavirus outbreak is about 1.4%, drastically lower than earlier estimates
8. Distilleries across the U.S. are making their own hand sanitizers and giving it away for free

On behalf of all of our team, please know that we are here for you and that we will continue to do everything we can to support you during this time. Please do not hesitate to let us know if there is anything you need! 

The Hatcher Agency