U.S. Rep. Max Rose introduced new legislation that would provide relief for medical providers who have been impacted by the COVID-19 pandemic.
The legislation would create a program that provides low-interest loans to healthcare organizations. It would assist them with anticipated revenue loss or higher operating costs as a result of COVID-19.
He also published a new Community Guide to COVID-19 to help navigate federal, state, and local resources.
The loan program is established in Rose’s COVID-19 Help Ensure Loan Protection (HELP) for Healthcare Providers Act.
Eligible entities include hospitals, skilled nursing facilities, physician practices, home health providers, community health centers, ambulatory surgical care centers and hospice providers.
“Our medical providers across the board are under incredible pressure and financial strain right now—both those on the front lines who are being stretched to the limits as well as those who have had to shut down or realign their work,” said Rose.
Borrowers are given a timeline to repay the loan. They have the option to extend the term for up to 19 years.
The program would have robust funding of $80,000,000,000.
“I am going to make sure our country is there for the health care institutions that cared for us in our hour of greatest need so that they can continue to keep us healthy and safe,” added Rose.