The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) signed into law last week includes a federal small business loan program to incentivize employers to keep current employees and reemploy employees who have been laid off or furloughed. Applications for the CARE’s Act Paycheck Protection Program (“PPP”) open April 3, 2020 and runs through June 2020.
To apply for a loan through the PPP, employers will have to document payroll costs which may include amounts paid for health insurance. MyEnroll360 can help.
MyEnroll360 offers self-service reporting capabilities which include a report summarizing employer and employee contributions for health coverage.
Log into your administrator profile with your user ID and password. Select the menu icon at the top left corner of the page. Under the menu, select “Reports.” Scroll to the “Premium Reports” section and select a “W-2 Reporting for Account in a Calendar Year.”
For information about MyEnroll360 reporting capability, contact your account manager or info@BASusa.com.