CARES Act Brings Big Changes for Employers

The coronavirus has brought with it a raft of legislative changes meant to ease rules for employers and employees alike. Most notably, on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. The sweeping, $2.2 billion law affects numerous aspects of employer-provided health and welfare benefits, from required health insurance coverage to the loans that retirement plan participants can take out.

This article provides a summary of the pertinent provisions – and potential pitfalls for employers.