Here’s exactly what the $2 trillion coronavirus stimulus bill means for hospitals, doctors, and health insurers

New york coronavirus testing

Congress is coming to the aid of healthcare workers at a time when they’re overwhelmed by surging demand and meager medical supplies.
The Senate passed a $2 trillion stimulus bill late Wednesday night. The package now needs to be voted on by the House.
More than $100 billion will go toward hospitals, and there are also changes to regulations for over-the-counter drugs and rules about what insurers must cover.
The House is taking up the stimulus package by voice vote, which would tee it up for President Donald Trump’s signature this weekend.
Visit Business Insider’s homepage for more stories.

The Senate sent a $2 trillion stimulus package to the House Wednesday night aimed at buoying an economy battered by lockdowns and layoffs amid the coronavirus pandemic.

The 880-page legislation, called the “CARES Act,” also has numerous provisions to rescue the healthcare system, which has become flooded by the demands of treating people with COVID-19.

Senators reached a bipartisan agreement after five days of negotiations. Text of the bill was released publicly just ahead of the late-night vote, but it’s not yet clear to what extent the bill will face opposition in the Democrat-controlled House, which is taking it up on Friday by what is known as “voice vote.”

The procedural move means most lawmakers can stay in their districts at a time when public health officials are urging as many people as possible to stay home. But it’s also a risky maneuver given that the bill would fail to quickly make it to President Donald Trump’s desk if a single member objects or requests a roll call vote.

Business Insider combed through the aid package making its way through Congress to take a look at how it would impact the healthcare industry. Most — but not all — provisions are directly tied to the coronavirus.

The bill provides funding for hospitals and healthcare workers

The hospital industry will receive more than $100 billion in funding from the federal government to help create what Senate Minority Leader Chuck Schumer, a New York Democrat, has been referring to as a “Marshall Plan,” referring to the reconstruction aid the U.S. sent to Europe after World War II.

The American Hospital Association, the American Medical Association, and the American Nurses Association estimated that hospitals are losing $1 million a day from the pandemic, …read more

Source:: Business Insider

(Visited 1 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *