Businesses who are covered by the CARES Act and who are planning to make large-scale layoffs this week might consider pressing pause. The Senate is presently debating the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), originally introduced late on March 19, 2020 ...
On March 23, 2020, the Centers for Medicare & Medicaid Services (CMS) released an FAQ on Medicare provider enrollment relief, noting several key changes aimed at streamlining and expediting provider enrollment in light of COVID-19. Physicians and non-physician practitioners may now enroll and receive temporary billing privileges without certain fingerprint-based criminal background checks and site visits ...
Sunday morning, Tennessee Gov. Bill Lee issued an executive order limiting restaurants, bars and similar food or drink establishments to drive-through, carry-out and delivery service only. Read the order here. Restaurants, limited-service restaurants and wine-only restaurants can sell take-out and deliver alcoholic beverages and beer. There is no additional license or permission needed to deliver ...
The U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (DOL) have announced aplanto implement the Families First Coronavirus Response Act (the Act) ...
Two schools of thought have emerged on business interruption insurance coverage for coronavirus, either (a) it is a total panacea that will shift the risk of coronavirus revenue losses to insurance carriers or (b) there is no possible coverage for losses caused by coronavirus. As with most things in life and insurance, the truth lies somewhere in between and will depend on the specific policy at issue and the jurisdiction interpreting the policy ...
The FDIC and other banking and credit agencies provided specific guidance to FDIC-supervised financial institutions that are working with borrowers affected by COVID-19. The Interagency Statement on Loan Modifications and Reporting by Financial Institutions Working with Customers Affected by the Coronavirus, issued on March 22, encourages lenders to “work constructively with borrowers” and offers the following guidance ...
“One ought never to turn one’s back on a threatened danger and try to run away from it. If you do that, you will double the danger. But if you meet it promptly and without flinching, you will reduce the danger by half.” - Winston Churchill As responses to the COVID-19 pandemic have evolved over the course of the first quarter, you and your business have reacted swiftly to ensure the health and safety of your customers, partners and employees ...
Earlier this month, the Securities and Exchange Commission (SEC)adopted amendmentsto the accelerated filer and large accelerated filer definitions set forth under Rule 12b-2 of the Securities Exchange Act of 1934 ...
Given the rash of moment-by-moment challenges presented by the COVID-19 pandemic, it is understandable that many companies have not been focused on what is likely coming when the crisis subsides: a flood of litigation related to the devastation left in the wake of the virus ...
In the midst of the coronavirus outbreak, the Centers for Medicare & Medicaid Services (CMS) has taken steps to make healthcare services more accessible through telehealth, particularly for those who are at high-risk of complications from the virus. CMS and commercial payors have opened a viable path for healthcare providers to continue to provide care to high risk patients and other patients and receive reimbursement for services to current and new patients ...
As Democrats and Republicans continue to negotiate the terms and conditions of a “Phase 3” COVID-19 bill, the implementation of a large-scale expansion of the Small Business Administration (“SBA”) Section 7(a) Loan Program appears to have widespread bipartisan support and should pass in some form in the next few days. The existing 7(a) Program currently operates to provide access to capital to small businesses that might not otherwise be eligible for bank loans ...
As of March 19, 2020, the requirement to receive a certificate of need (CON) prior to increasing bed capacity has been temporarily suspended byTennessee Executive Order No. 15(the “Order”) ...
Late Tuesday night, the Department of Labor issued an official Frequently Asked Questions in regards to the recently passed Families First Coronavirus Response Act. READ NOW: Our complete Families First coverage Here are a few key takeaways: The effective date of the Act is April 1, 2020 ...
Employers are grappling with increasingly difficult decisions as COVID-19 changes our labor force and the ways we work in profound ways. Below are various benefits-related issues and solutions to consider, amidst a rapidly shifting legislative environment: 401(k) loans and hardship distributions:Most 401(k) plans allow in-service withdrawals in the event of financial hardship ...
Waller’s Financial Technology practice has been providing advice to processors, banks, ISOs, financial technology providers, merchants and other participants in the payment processing ecosystem for over forty years ...
On March 23, 2020, the Centers for Medicare & Medicaid Services (CMS) announced updates to its survey process in response to COVID-19 (press release,press release, andmemo). Specifically, as authorized pursuant to section 1135(b)(5) of the Social Security Act, CMS is prioritizing certain surveys and exercising enforcement discretion for all certified provider and supplier types for the next three weeks ...
More and more states, counties and municipalities are issuing “stay-at-home” orders or directives recommending, and sometimes requiring: non-essential travel be limited; non-essential businesses temporarily close; or people generally remain at home ...
Many governmental authorities across the country have ordered “nonessential” businesses to shut down because of the COVID-19 crisis. Many business owners are asking what that means for the business income losses that they are forced to endure and whether insurance will cover those losses. Most property insurance policies that offer business interruption coverage provide some form of “civil authority” coverage ...
Rural and community hospitals could fill a major gap in a healthcare system that will likely be overloaded, in varying degrees, for at least the next 18 months due to the COVID-19 global pandemic. Congress is in the process of passing the Coronavirus Aid, Relief, and Economic Security Act (“the Cares Act”) that provides unprecedented relief designed to help business in general, but specific allocations for hospitals ...
Is now a time to think a bit differently about an old topic? Let’s see. This short article does not make that decision for your business or client. It does provide the reasons to consider it. Until the aftermath of COVID-19 passes through the American workforce, businesses experiencing coronavirus-related economic hardships will face difficult decisions. These include whether to furlough or layoff employees—an already challenging question ...
Two days after issuing its initial FAQ about the Families First Coronavirus Response Act (FFCRA), the Department of Labor (DOL) has updated the list, including adding 23 new questions. We will have full coverage of the updated FAQ soon ...
Just 24 hours after the President signed the CARES Act into law, the Centers for Medicare & Medicaid Services (CMS) expanded the scope of its Accelerated and Advance Payment Program to include additional Part A providers and Part B suppliers. CMS outlined the program expansion in a fact sheet. The accelerated payments are intended to provide immediate cash flow relief to providers and suppliers focused on treating the flood of COVID patients ...
Zoom, the social platform which has become nearly ubiquitous in the past few weeks, has unintentionally introduced the world to a new term: “Zoom Bombing." Millions of people are struggling to maintain some semblance of normalcy as they continue to engage in personal and business interactions while simultaneously practicing social distancing during the COVID-19 pandemic ...
