Congress Passes $900 Billion Stimulus Package COVID-19; Federal Budget Published:December 23, 2020 firstname.lastname@example.org Page ContentOn Monday, Congress passed a $900 billion stimulus package that is a mixed bag for the long term care sector. The bill now awaits the President’s signature or veto. The legislation added only $3 billion to the Provider Relief Fund for all health care providers. The rationale appears to be that there is still $20 billion left in the fund from prior stimulus bills, and that the new Congress will look at adding additional dollars in early 2021. We recognize that most of our members are operating at a loss and need additional Provider Relief Funds. So, we expressed our disappointment with the package due to this. AHCA/NCAL will continue to advocate for additional funds, so that providers can continue to fight COVID and offer high quality care. On the positive side, the bill does the following: It extends the sequester relief for three more months. This keeps Medicare rates 2% higher until the end of March of 2021. It provides a much broader definition of revenue and expenses for purposes of attesting for Provider Relief Funds. This is a major relief for many operators. It prevents some Part B Medicare cuts that otherwise would have taken place. It allows providers to deduct the expenses that Paycheck Protection Program (PPP) loans paid for, even if the Small Business Administration forgives the PPP loan. It allows HUD to offer some more favorable conditions on existing HUD loans. A longer summary of the bill is available here. Please email email@example.com with any questions.