American Rescue Plan Act

The American Rescue Plan Act was signed into law on March 11, 2021. Vinna Human Resources is here to provide your company guidance as the laws and requirements for employers are everchanging. We have created an overview of the relief package topics and additional information as a resource to our clients.

We encourage you to check back often. More information will be added to this page as further American Rescue Plan details are released. For additional support and direction, contact us for a consultation.

New Updates!

May 25, 2021 - Now that the facemask requirement has been rescinded from the recent Executive Order, many companies have questions on how this impacts other requirements. We are reminding our clients the importance of having a Preparedness Plan in place. These plans are still required of businesses until further notice. It is up to your company's discretion if facemasks are still required for your place of business. Make sure your Preparedness Plan reflects any possible changes. Contact us for additional guidance.

April 9, 2021 - COBRA Model Notices are available now on the U.S. Department of Labor COBRA Premium Subsidy webpage. Learn more about the COBRA portion of the American Rescue Plan Act in the COBRA tab.

Families First Coronavirus Response Act (FFCRA) and Other Tax Credit Extensions

Families First Coronavirus Response Act (FFCRA) has been renewed in the form of the American Rescue Plan Act. As of April 1, 2021, the new law resets the amount of leave available to employees (whose employer elect to provide paid leave.). Employees will have 80 hours of paid sick leave, even if employee had previously taken paid sick leave.

The American Rescue Plan provides employees with vaccine appointments and complications from receiving the vaccine as additional reasons for paid sick leave and family leave.

Employers must now decide whether to start or continue to provide paid sick and family leave under the Act’s provisions and be prepared to update their forms and policies accordingly.

Learn more about FFCRA and other tax credit extensions from the Society of Human Resource Management (SHRM).

Extended Unemployment Assistance

COBRA

The American Rescue Plan Act allows for new special election opportunities for assistance eligible individuals (AEIs). Individuals covered under a health plan any time between April 1, 2021 through September 30, 2021 who are entitled to COBRA coverage due to involuntary termination of employment may be included in the new special election opportunities.

To learn more about the new notice requirements for employers, how your company may be impacted and view model notices, read more from the U.S. Department of Labor.

Grants for Small Businesses

The grants for small businesses in the American Rescue Plan Act are targeted towards restaurants. Within the Act, the Restaurant Revitalization Fund (RRF) was created in hopes to assist restaurants and bars hit hard from the pandemic. The Small Business Administration (SBA) will be dispersing the RRF grants, however, there is no launch date as of late.

For more details about the RRF grants and other small business aspects in the Act, explore the U.S. Chamber of Commerce website article.

COVID-19 Economic Injury Disaster Loans (EIDL)

Paycheck Protection Program (PPP) Loans

PPP was established in March of 2020 through the Coronavirus Aid, Relief and Economic Security (CARES) Act. This program helps covered businesses keep employees on the payroll during the coronavirus pandemic through providing forgiveness loans (as long as funds were spent on payroll-related expenses and other criteria was met). The second round of PPP was completed on March 31, 2021.

For additional information about PPP loans, check out the U.S. Small Business Admission website.