Will my insurance cover the COVID-19 vaccine?
Find out the key details you need to know about insurance coverage for the COVID-19 vaccine.
CARES Act News and Analysis
About CARES Act
The **CARES Act** (Coronavirus Aid, Relief, and Economic Security Act) is a landmark $2.2 trillion economic stimulus package enacted by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020. It was designed as a rapid response to the severe economic impact of the COVID-19 pandemic in the United States[1][3][4]. The Act's primary goal was to provide immediate financial relief to individuals, businesses, healthcare providers, and governments affected by the pandemic. Key provisions included one-time direct cash payments to eligible individuals (mostly $1,200 per adult), expanded unemployment benefits totaling $260 billion, and the creation of the Paycheck Protection Program (PPP), which initially allocated $350 billion in forgivable loans to small businesses—later expanded to $669 billion—to help maintain payrolls and prevent layoffs[1][6]. Beyond financial aid, the CARES Act addressed healthcare needs by increasing funding for hospitals and medical supplies, expediting drug and device approvals, and expanding telehealth services under Medicare and private insurance. It also required COVID-19 diagnostic testing to be covered without cost-sharing by insurers, including Medicaid, even before full FDA authorization. Additionally, it included measures to support rural health programs, workforce flexibility, and Medicare payment adjustments to better manage the health crisis[2]. The Act also allocated $500 billion in loans to large corporations and $339.8 billion to state and local governments to stabilize various sectors of the economy[1][9]. Oversight and auditing responsibilities were assigned to the Treasury Office of Inspector General to monitor fund distribution and compliance[9]. Historically, the CARES Act was notable as the largest emergency relief package in U.S. history, reflecting a bipartisan effort to mitigate an unprecedented economic downturn caused by a global health emergency[3][6]. While it provided critical short-term relief, many analysts view it as a relief bill rather than a long-term economic stimulus