State plans to use CARES Act money to help Vt. hospitals
To keep Vermont hospitals and clinics above water in the age of COVID-19, the state is working on a plan to pump up to $375 million into our health care system.
The coronavirus forced hospitals to shut down elective procedures and also prevented some patients from seeking care. State leaders say this is taking a massive financial toll on hospitals across the state.
The state is now planning on investing $375 million of Vermont's $1.25 billion of the federal CARES Act in hospitals. Leaders say hospitals can apply for funding through an application process and they say many are in need.
"Perhaps not in the urgent desperate need that our businesses are in, that's why the governor put the economic package first on this, but we really need to put economic stability into our operations," Vt. Agency of Human Services Secretary Mike Smith said.
Smith says the state will release more details about the plan next week.