COVID-19 Legislative Action – Part 1
Episode 66 – To help the American public during the COVID-19 pandemic, the federal government has instituted some legislative measures. In this podcast, we summarize those measures, as well as provide another reminder of the CDC recommendations to help mitigate and prevent the spread of illness in our community.
Part 1 Transcript
First and foremost, Security Mutual hopes that all of you are healthy, safe and secure. We understand the hardships many families are enduring, and with all of us helping each other, we will navigate through the difficulties and challenges of this COVID-19 pandemic.
We urge everyone to stay up to date with the latest safety information by regularly visiting the Centers for Disease Control (CDC) website at https://www.cdc.gov/coronavirus/2019-ncov/index.html, which provides comprehensive, up-to-date information about the novel coronavirus, including how the virus spreads, symptoms, prevention, and travel and situation updates.
Please follow the recommendations of state health authorities, the CDC and the World Health Organization (WHO) to help mitigate and prevent the spread of illness in our community, including to:
- Stay home as much as possible and particularly if you are sick.
- Wash your hands with soap and water for at least 20 seconds frequently throughout the day and each time you use the restroom, before you eat, after coughing, sneezing, or blowing your nose. (Sing Happy Birthday twice to reach 20 seconds.)
- Use soap and water or, if not readily available, use a hand sanitizer that contains at least 60% alcohol.
- Do not touch your eyes, nose or mouth with unwashed hands.
- Maintain a social distance from others of at least six feet.
- Avoid handshaking and other close personal contact to avoid spreading illness.
- Conduct communications by means other than through in-person meetings or gatherings.
- Use proper respiratory etiquette when coughing or sneezing. Cover your mouth with a tissue (or your elbow if you have no tissue), throw the tissue away and wash or sanitize your hands.
- Frequently clean high touch points, including tables and chair handles before you use them, and wipe down your workspace equipment often, including desk surfaces, keyboard, mouse and phone system.
To further help the American public, the federal government has instituted legislative measures, including:
1. On March 18, 2020, the U.S. Department of the Treasury announced that individual federal income tax returns and income tax payments will be due July 15th instead of April 15th for individuals who owe $1 million or less and corporations that owe $10 million or less. Most states are adopting the new deadlines for state returns as well.
2. On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (“FFCRA”). FFCRA does several things, including:
- Amends the Family and Medical Leave Act (“FMLA”) to require employers with fewer than 500 employees to provide to employees up to 12 weeks of FMLA medical leave due to a “Qualifying Need Related to a Public Health Emergency.” Employees need only to have been employed for at least 30 days to qualify.
- Qualifying Need Related to a Public Health Emergency” means the employee is unable to work (or telework) due to a need to care for a child under 18 years of age if the school or place of care has been closed, or the child care provider of such son or daughter is unavailable due to a public health emergency.
- The first 10 days may be unpaid and, in many situations, when returning to employment, the employee must maintain the same or similar position. Other exceptions may apply to smaller employers.
- Larger employers with more than 500 employees are not affected by this legislation.
- Employers are required to provide up to two weeks of paid sick leave in certain situations if the employee is required to self-isolate; is placed in quarantine; is being treated for coronavirus symptoms; or is required to care for a dependent who is self-isolating, quarantined or being treated.
- Employers are entitled to certain employment tax credits for paid sick leave or paid FMLA leave.
3. On March 6, 2020, President Trump signed into law the Coronavirus Preparedness and Response Supplemental Appropriations Act. This law provided funding for vaccination development and research, testing and treating patients, and the purchase of protective gear for healthcare providers. For small business owners, money was provided to the Small Business Administration (“SBA”) to support the SBA’s administration of loan subsidies.
4. As of the publication of this release, Congress is debating additional measures to provide relief to the American public. The most recent development is the possibility of a one-time monetary payment to most low-income and middle-class taxpayers. We’ll let you know what the provisions are once they are enacted.
In addition to federal government assistance, many states are also providing assistance to their residents, so check the websites of your state, as well as those of your state and local Health Departments for developments.
With respect to the economic issues brought on by COVID-19, particularly that cash flow may be extremely tight for many families, Security Mutual stands ready to assist. To any of our customers who have been affected by COVID-19, including situations where the virus is affecting your ability to submit a claim or make a premium payment or if you want to access available monies from your policy or contract, please contact us or contact your local Security Mutual life insurance advisor, who can review your financial circumstances and discuss your options.
This information does not, and is not intended to, provide any legal, medical, tax or other financial advice and should not be relied upon by you in that regard. You are strongly encouraged to consult with your own medical and professional advisor(s) about your individual circumstances.