Millions of Americans are slated to receive a second Economic Impact Payment (EIP) as part of the recently passed and enacted Coronavirus bill. This follows the EIP that was distributed in 2020 as part of the response to the COVID-19 pandemic under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. These payments aim to support Americans and provide some financial relief.
It is important to note that CARES Act EIP requirements also apply to the EIPs in the most recent stimulus package, as well as any future payments. If you or someone you know serves as a representative payee for a Social Security or Supplemental Security Income (SSI) beneficiary, that designee is only responsible for managing Social Security or SSI benefits. The EIP is not an SSA benefit, and it belongs to the beneficiary. Representative payees should discuss the payment with the beneficiary, when possible. If the beneficiary requests access to the funds, they’re obligated to provide it.
AHCA/NCAL also recorded a webinar in 2020 focused on EIPs from the IRS and important facts for skilled nursing facilities, ICFs/IID, and assisted living centers to know on the use of them. A variety of resources from the Social Security Administration to the National Center on Elder Law and Rights are available at the end of the webinar.