Valley Health extends Paycheck Protection Plan
Valley Health announced the extension of its Paycheck Protection Plan (PPP) to provide income security for employees.
The company implemented the PPP in mid-April in response to COVID-19. The initiative was set to expire July 25, but will now remain in place through the end of the year.
“As our health system and community were confronting COVID-19 and preparing for a potential surge of patients, we wanted our associates focused on one thing – providing safe, high quality care and protecting their health – not worrying about their employment status or the financial impact of reduced hours,” said Valley Health President and CEO Mark Nantz in a news release.“Our initial commitment to the PPP initiative was for 90 days, and I’m proud to say that during this time, hundreds of our associates were able to maintain at least 70 percent of their pay and continued benefit coverage.”
The health system employs more than 6,000 associates, hundreds of whom benefited from the PPP after experiencing a reduction in hours due to service closures.
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