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The COVID-19 Action Plan: What Could It Mean for Employers?

The president has announced a COVID-19 Action Plan, outlining requirements expected to impact more than 80 million workers, and here’s what you need to know about the act and how to mitigate compliance exposure for your business.

What you should know

The Occupational Safety and Health Administration’s (OSHA) is expected to issue a rule for regular, weekly COVID-19 testing or vaccinations for all organizations of 100+ employees. Additionally, approximately 17 million health care workers who work for an entity which receives Medicare or Medicaid payments could require vaccination, as well as some federal workers and contractors.

Qualifying employers could also be required to provide paid time off for any employee needing to be vaccinated or who is experiencing post-vaccination symptoms. Noncompliance could result in significant penalties for employers once the rule is formally issued.

The plan also includes an expansion of the COVID Economic Injury Disaster Loan program. While the initiative already provided loans, the maximum loan amount will increase from $500,000 to $2 million. Small businesses will be provided a 30-day exclusive window to apply for loans of $500,000 or less shortly after the program launches.

Finally, the plan will streamline the Paycheck Protection Plan loan forgiveness application by sending select borrowers an autopopulated form for them to sign and return to the Small Business Administration.

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Paycom can help

The COVID-19 Action Plan presents a number of immediate compliance risks. Paycom is not only here to help you understand these new provisions, but also provide tools that can help you stay compliant. Our single software allows businesses to readily track an employee’s vaccination and testing status.

For more information about the new COVID-19 Action Plan, we encourage you to read the White House’s official outline. And visit our blog for regular posts about HR compliance and more!

 

DISCLAIMER: The information provided herein does not constitute the provision of legal advice, tax advice, accounting services or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional legal, tax, accounting or other professional advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation and for your particular state(s) of operation.