CARES Act

How does the CARES Act help During the Pandemic?

The ongoing coronavirus pandemic has caused a lot of problems for Americans. Besides the fear of getting infected, losing a loved one, or succumbing to the disease, there is also the risk of losing thousands of dollars for medical treatment. With how unstable the job market is during this sociopolitical climate, it is only natural that people look for assistance from the federal government.

One way that the United States government addressed this gap is through the CARES Act. It is short for “Coronavirus Aid, Relief, and Economic Security Act.” The Senate and the House approved the bill into law, including stipulations that attempt to lessen the economic drawbacks of the pandemic. However, many Americans are still not covered when it comes to the sudden health and socioeconomic issues that arose.

What Is Included in the CARES Act?

The CARES Act includes an extension of unemployment benefits. These include eligibility for certain amelioration services. In addition, there are also recovery rebate policies for people in the lower social classes. These are usually priced at $1,200 for legal adults and $500 for minors below 17.

One disadvantage is that many people from lower-income households need to file tax returns. Previously, they did not need to do this. Also, some immigrants and their family members might not be eligible to receive the benefits. These include their children, regardless of age and American citizenship status.

The act also includes a dedicated COVID-19 fund that aims to provide better subsidies for states across the country, but there are also factors such as layoffs in government-backed jobs. With these continuing to happen throughout the country, people continue to worry about their health and future.

What Are the Disadvantages of the CARES Act?

As the Trump administration passed it, the CARES Act was criticized for specific reasons. For instance, there are no policies specifically expanding health coverage for uninsured individuals infected with COVID-19. The act is also ineffective in helping people afford their daily need for food and groceries because of the lack of a nutritional assistance program.

The emergency fund explicitly allocated for the virus is also not comprehensive. Parts of it could be used to strengthen food efforts and cash subsidies, and health programs. There are also no mechanisms for problems such as unemployment.

Skyline Insurance Agency recognizes the need for better strategies relating to finances in the pandemic. Health insurance is an essential need, yet it can be costly for a lot of Americans. As a client-focused company, we remain firm in our commitment to meeting the needs of people availing of our services.

Our company offers services to Utah and other nearby states. We want to uphold transparency and convenience in our operations, which is why we are hands-on in delivering our insurance services to you. All recommendations are given based on an individual’s needs. We believe that you deserve to know the best options when it comes to health insurance plans available to you.

As the crisis continues, it is best to prepare.