As the financial impact of the coronavirus pandemic on senior living is on track to reach $17 billion annually, providers need more funds to cover additional expenses and lost revenue and they need new tax credits to pay for certain expenses incurred as employers, the American Seniors Housing Association told leaders in Congress in a McKnight’s article.
Senior living providers to date have received a “limited” amount of aid from the Coronavirus Aid, Relief and Economic Security (CARES) Act Provider Relief Fund, “not adequate to cover the significant outlays and revenue loss already experienced, not to mention the ongoing costs in the months ahead”, said ASHA President David Schless. “This public health crisis demands that federal resources be allocated to the senior living industry to ensure our ongoing ability to serve this vulnerable population”.
A letter was sent to House Speaker Nancy Pelosi (D-CA), Senate Majority Leader Mitch McConnell (R-KY), Senate Minority Leader Chuck Schumer (D-NY) and House Majority Leader Kevin McCarthy (R-CA) to pass a COVID-19 relief package during the “lame duck” session of Congress before President-elect Joe Biden is inaugurated January 20. ASHA represents operators of independent living, assisted living, memory care, and continuing care retirement communities.