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The Trust is marketed under brand names Washington Farm Bureau Healthcare and WFB. Healthcare http://wfbhealthcare.com/. II. Comments and. Get started with estate planning - understanding the basics, beneficiary designation, organizing documents, charitable giving and health care directives. Explore CVS MinuteClinic at 240 E Hampton Rd, Whitefish Bay, WI 53217. rest assured in the knowledge that quality healthcare is but a walk away.

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severance package

The most important component of a severance package is, of course, the severance pay. It, in turn, is typically one or two weeks of pay per year of service, though it’s much more than that for executives. Most of us probably think of severance packages as a right. But in most situations, they are a privilege. No federal law mandates them, though there are laws governing severance pay when layoffs come without warning and that require access to  group health insurance plans. Whether the parting of ways is voluntary or not, a company that offers a severance package is doing so as a courtesy wfb healthcare and to buy some goodwill. Read on for more about what you should expect in a severance package and how to negotiate one verizon cell pay bill yourself.

What Is in a Severance Package?

As just noted, the central element in a severance package is the severance pay. It’s generally one or wfb healthcare weeks per year of service, but depends on company policy. Some employers may pay more to people who have long tenures or high-level jobs.

Another important component of a severance package is the continuation of health benefits. According to the Consolidated Omnibus Budget Reconciliation Act (COBRA), employers must offer access to their health insurance plan for 18 months after termination. But the law doesn’t say the employer has to continue paying whatever portion they covered when you were an employee. So one thing to look out for – and possibly negotiate – is their continuing to pay their share of your health insurance costs. Otherwise, the cost of COBRA coverage can be prohibitively expensive.

Severance packages may also include access to job training, a headhunter or outplacement services, information about filing for unemployment, rollover paperwork for your retirement savings plan or pension, and an agreement to not disparage the company or sue the company, which you must sign to receive your severance pay.

What Is a Reasonable Amount of Severance Pay?

Since there’s no legal requirement to offer severance pay, it’s up to employers to determine a reasonable amount to provide. Consequently, severance pay can vary widely, depending on a number of factors. If you were entry level, worked there briefly or were fired with cause, it’s quite likely you’ll receive little to no severance. On the other hand, if you were upper management, worked there a long time or you were laid off (rather than fired), you may reasonably expect to receive some severance.

Many employers base severance pay on the employee’s years of service. In some industries, the standard is one week’s pay for every year the employee worked; in other industries, it’s a month of pay per year. Top executives at large companies may have a  “golden parachute” – sometimes millions of dollars in severance pay – written into their contract. For instance, Marissa Mayer reportedly received $23 million of severance pay at the end of her brief tenure as CEO of Yahoo.

Some employees, typically executives or other high-level employees, receive their severance in regular installments. Lower-level employees are more likely to receive a lump sum after their last paycheck.

Do Employers Have to Pay Severance?

severance package

Employers have to pay severance in two situations. One is if your employment contract specifically provides for severance pay, and the other is if you are part of a layoff that had no warning.

The rest of the time, companies are generally offering severance in exchange for the former employees’ signatures on an agreement not to speak negatively of, or pursue legal action against, the company. Additionally, severance helps employees stay on solid ground while they look for a new job. It’s a common courtesy for employers to provide it. So a company that routinely doesn’t pay severance could develop a bad reputation, potentially hamstringing their ability to recruit top talent.

Should You Negotiate Your Severance Package?

Your success in negotiating your severance package will depend on a number of factors. In many cases, an employer applies a uniform methodology to dole out severance to every employee they lay off. Again, this formula will usually depend on a combination of seniority and tenure. It’s quite likely that they won’t budge from this formula unless there are extenuating circumstances. This is particularly true of large-scale layoffs where they’re providing severance to many people.

If the company has a written severance policy, that’s another situation where the amount won’t be negotiable. In these situations, the policy was likely in your employment contract, so there wouldn’t be much point to negotiating.

If your employer doesn’t have a written severance policy, you may have better luck negotiating. Same goes if you’re not losing your job as part of a reduction in force. When negotiating, you should decide what you want most from your employer and structure your proposals around that. If your biggest priority is pay, demonstrate to your employer how the amount they proposed doesn’t adequately reflect the value you generated for the company. If you directly generated revenue, you can use your actual contributions to support this.

Pay may not be your biggest priority though. You could take slightly less pay in exchange for keeping your health benefits for a longer period of time. Additionally, you may want to propose taking less in exchange for a written guarantee from your employer that they will serve as a positive reference when you’re applying for your next job.

The Bottom Line

severance package

Losing your job can be extremely difficult, especially if you didn’t see it coming. A severance package can soften the blow, and help you transition from jobholder to job seeker. Unfortunately, though, you don’t have a lot of leverage in negotiating the terms of your severance package. If your employer offers one that seems unfair, you’ll need to do some research to make your case. You’ll also need to prioritize your asks.

Tips for Finding a Financial Advisor

  • Severance pay can help during unemployment, but your job search could very well outlast it. In these situations, an emergency fund can be extremely helpful. You can stash your emergency fund in a few different ways, ranging from a savings account to a CD ladder.
  • A financial advisor can help you develop a financial plan that prepares you for anything life throws your way. SmartAsset’s free financial advisor matching tool will connect you with up to three qualified advisors in your area. Just answer some questions about your financial situation and goals, and the tool will find local advisors that fit your needs. Get started today.

Photo credit: ©iStock.com/hoozone, ©iStock.com/PeopleImages, ©iStock.com/tolgart

Источник: https://smartasset.com/financial-advisor/severance-package

Clover Health to Present at the 2021 Wells Fargo Virtual Healthcare Conference on September 9, 2021

NASHVILLE, Tenn., Aug. 26, 2021 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV), a technology company committed to improving health equity for America's underserved seniors, today announced that CEO Vivek Garipalli and President & CTO Andrew Toy will present at the 2021 Wells Fargo Virtual Healthcare Conference on Thursday, September 9, 2021, at 3:20 p.m. Eastern Time.

A live webcast of the presentation will be accessible from Clover Health's investor relations website athttps://investors.cloverhealth.com/. An archived replay of the presentation will be available from the same website for 12 months following the live presentation.

About Clover Health
Clover Health (Nasdaq: CLOV) is a next-generation risk-bearing organization aiming to achieve health equity for all Americans. While our mission is to improve every life, we particularly focus on seniors who have historically lacked access to affordable high quality healthcare.

Contacts:
Investor Relations:
Derrick Nueman
[email protected]
Press Contact:
Andrew Still-Baxter
[email protected]


Источник: https://www.globenewswire.com/news-release/2021/08/26/2287420/0/en/Clover-Health-to-Present-at-the-2021-Wells-Fargo-Virtual-Healthcare-Conference-on-September-9-2021.html

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Источник: https://www.gehealthcare.com.sg/

Walk-In Clinic in CVS Pharmacy at 240 E Hampton Rd, Whitefish Bay, Wisconsin 53217

What can I expect from CVS MinuteClinic® at 240 E Hampton Rd Whitefish Bay, WI?

MinuteClinic® is a walk-in and book clinic inside your local Whitefish Bay CVS/Pharmacy® or HealthHUB® location. At our HealthHUB locations, you can receive most MinuteClinic services as well as shop our health products. Our clinics give you a cheaper and more convenient alternative to emergency rooms and urgent cares, while still offering most of the same services. With the ability to walk in and make an appointment, you can come in at any time – including evenings and weekends. MinuteClinic® provides quality health care for adults and children over 18 months. We treat a wide range of conditions and illnesses to ensure that you and your family get well and stay well. Some of our services include TB testing, flu shots, and sports physicals. Come in for a MinuteClinic visit and receive quality health care on your schedule!

How Much is a MinuteClinic Visit at 240 E Hampton Rd Whitefish Bay, WI with and without Insurance?

MinuteClinic® prices in Whitefish Bay range anywhere from $35 to $250 depending on the service, which makes us 40% cheaper than urgent care centers. Please visit our service price list and insurance information page to see detailed pricing and insurance breakdowns. At CVS MinuteClinic®, most insurance plans are accepted. We recommend contacting your insurance company prior to your visit to be sure that the service you are seeking will be covered. How much you will have to pay out of pocket will depend on your insurance coverage. If you do not have insurance or prefer to pay out of pocket, you may pay with cash, card, or check. Prices may vary depending on the complexity of the case. Lab tests and additional services may result in additional charges.


Can’t make it in for a visit? We also have Video Visits, which enable you to see one of our health care professionals from the comfort of your own home as an alternative for just $59 per visit. Currently, a Video Visit is not covered by insurance and is not required to get treatment.

Whether wfb healthcare having lunch when you suddenly feel nauseous or you're at home in your sweatpants when your throat becomes scratchy and your nose runny, rest assured in the knowledge that quality healthcare is but a walk away. Our MinuteClinic®, located conveniently within our CVS Pharmacy® at the corner of East Hampton Avenue and North Santa Monica Boulevard, is staffed with professional practitioners who are ready to diagnose and treat whatever condition ails you. We also offer preventative care so that you can keep the worst diseases at bay.

Protect yourself against the flu virus

The flu virus seems to get worse and worse each year, with more people either experiencing complications or worse. Sadly, most of those who have severe problems with the flu are not immunized. Though the flu shot is not 100 percent effective, as it's impossible for researchers to predict which strain of the virus will infect the population each given year, it does help individuals fight the virus and alleviate symptoms. Most importantly of all, it helps prevent dangerous and possibly fatal complications, such as dehydration, pneumonia and congestive heart failure.


The flu virus is available at the start of flu season, which is right around late October, and through the end of flu season, which is late April or early May. Our MinuteClinic® is certified to administer the shot to healthy individuals over the age of 18 months. If you're not sure whether you fall into the "healthy category," ask yourself, are you pregnant, over the age of 65, sick with diabetes or immunocompromised? If you're still not sure, consult with one of our clinic practitioners.

Defend against other less common but dangerous diseases

The flu isn't the only virus for which you are at risk. Though diseases such as measles, mumps, rubella, pertussis, polio and meningitis are far less common than influenza, there are still active strains out there. If you come into contact with one of them and are not vaccinated, the resulting illness may be far worse than the flu. You can protect yourself and those you love by getting the following immunizations at our MinuteClinic®:

  • MMR
  • Tdap
  • HPV
  • Polio
  • Meningitis

Adults and children alike should get vaccines when they're able. Your participation is essential to the concept of herd immunity,

Get the immediate medical attention you need when you're ill

If you're feeling under the weather despite measures you took to safeguard yourself, the healthcare professionals at our MinuteClinic® are prepared to diagnose and treat you. Some common ailments we treat include the following:

  • Asthma
  • Flu, cold and upper respiratory infections
  • Heartburn and indigestion
  • Eczema
  • Allergies
  • Sinus infections
  • Ear infections
  • Nausea, vomiting and diarrhea

Our team is also qualified to perform routine physicals for those who wish to gain a baseline of their health. If you are concerned about your blood pressure or cholesterol, we can also provide accurate readings.

You can find us right across Oak Leaf Trail

Because of our central location, our East Hampton Avenue MinuteClinic® is fairly easy to find. However, if you're not from the area you can Call us at 1-866-389-2727 for driving directions, or you can Google "find a walk in clinic near me."

Источник: https://www.cvs.com/minuteclinic/clinic-locator/wi/whitefishbay/8768.html

The allure of working from bed is strong – but turning your mattress into your office can trigger a slew of health problems, both psychological and physical.

F

For many people, working from home, or ‘WFH’, has also come to mean ‘WFB’ – working from bed. Getting dressed and commuting to an office has been replaced by splashing water on your face and cracking open a computer as you settle back under your blanket.

A staggering number of people are setting up shop on their mattresses; according to a November 2020 study, 72% of 1,000 Americans surveyed said they had worked remotely from their bed during the pandemic – a 50% increase since the start of the crisis. One in 10 reported they spent “most or all of their workweek” – 24-to-40 hours or more – in bed. This is especially true of young workers; in the UK, workers aged 18 to 34 are the least likely to have a proper desk and chair, and are twice as likely to work from bed than older workers.

But WFB isn’t just for lack of a proper chair – many simply love the cosiness and ease of the set-up. On Instagram, the #WorkFromBed hashtag pulls up thousands of photos, many of them featuring smiling people snuggled up in their pyjamas with cups of coffee, maybe even breakfast on a tray.

But the reality is that turning your bed into your office can trigger a slew of health problems, both psychological and physical. And even if you don’t notice them now, adverse effects – possibly permanent – could emerge later on in life.

Studying and doing homework from bed is bad, too, and working on a bed while lying on your stomach can be especially bad for your body (Credit: Alamy)

But experts say that regardless of whether working from bed is avoidable or not, the ergonomic advice is the same: it’s not good for your body, so it’s very important to vary your posture and support different parts of your body wherever possible.

Your neck, back, hips and more are all strained when you’re on a soft surface that encourages you to slump or sprawl. “None of it is optimal,” says Susan Hallbeck, director of health-care-system engineering at the Mayo Clinic, one of the largest medical research institutions in the US. “You’re really not supported in a way that’s conducive to work.”

Young people, she points out, are particularly likely to fall victim to these bad habits, because they may not feel the strain of them right away. But the pain will flare up down the road. And depending on how bad your habits have been over this last year, the damage may already be done. It depends on the person, but it may be too late to undo the ergonomic problems you’ll face when you get older.

These ailments could include simple headaches, and could also extend to permanent stiffness in your back, arthritis and what’s known as cervical pain – that’s pain in the bones, ligaments and muscles in your neck that allow motion. “Anything is better than continuing the bad habit. Whenever you can stop, stop,” says Hallbeck.

If you must continue working from bed (“there are grades of bad,” says Hallbeck), try recreating the experience of sitting in an upright chair as much as you can, and aim for “neutral posture” – that is, avoid putting strain on any one part of your body.

Roll up a pillow and stick it under your lower back for lumbar support, put pillows under your knees, try to separate the display from your keyboard (if you’re able) and put the display at eye level or higher. Whatever you do, avoid lying on your stomach to type; it really strains your neck and elbows.

When in doubt, get creative, like using an ironing board as a makeshift standing desk. But if you possibly can, it’s worth splashing out on some comfort. “If you’re going to be working from home for a long time” – and most experts predict that we will – “it really does pay to invest in a good workstation, even wfb healthcare it’s a very small workstation,” adds Hallbeck.

Breaking your brain

When you work from bed for a year, it doesn’t just potentially wreck your body. It’s possibly bad for your productivity and sleep habits, too.

“As sleep specialists, we tend to recommend that the bed should be for the three Ss: sleeping, for sex or for when you’re sick. That’s it,” says Rachel Salas, associate professor of neurology and sleep expert at Johns Hopkins University in Maryland.

“The more you watch TV in bed, play video games in bed and not sleep in bed, your brain starts learning, ‘oh, OK, we can do any one of these activities in bed’. It starts building these associations, which eventually evolve into conditioned behaviours.”

Not only does working from your bed spell wfb healthcare ergonomic disaster, but it can rewire your brain to disassociate your bed with sleep (Credit: Alamy)

This is what experts call ‘sleep hygiene’ – essentially, best practice as it relates to being in bed. Putting on your pyjamas at night is good sleep hygiene because it tells your body it’s time to start shutting down. Doomscrolling or sending emails in bed is bad sleep hygiene.

So, when you set up shop in bed with your laptop, phone, Slack and all the glowing screens your job requires every day, your brain and body eventually stop associating bed with rest. That’s a big reason why the pandemic has led to ‘coronasomnia’, says Salas, referring to the global spike in insomnia and sleep disorders that has accompanied Covid-19.

“You’re really training your brain to be alert, and [telling it] this is where your ideas come and this is where it’s full work mode” when you WFB, adds Salas. “When you’re trying to wind down and go to sleep, your brain is like – ‘wait a minute, what are we doing? This is work time’.”

Doing this for a year, or any extended period of time, could lead to insomnia, or to something called circadian rhythm disorder. That’s when our bodies’ natural clocks, that tell us when it’s time to sleep, get thrown out of whack in the long term. Salas says it can also aggravate non-sleep-related issues you may have, like restless leg syndrome, in which case the affected body parts need rest to avoid the symptoms associated with the condition.

And disturbed nights, body pain or both mean that work-wise, you’re less likely to be productive, creative or focused, the experts say, making it likely your work could suffer.

A problem for everyone?

The most pernicious issue, however, is that all those potential problems may show up in some WFB workers, but not in others.

“Some people will swear that it’s not an issue for them: they can work in bed, they can sleep in bed,” says Salas. “They can do whatever they want in bed and it doesn’t negatively affect their sleep.”

Genetics, environmental factors, how bad the habits are and how long you do them, your age: all of these play a role in whether working from bed for a year or longer is actually going to be bad for you. “It’s not a dose-response relationship,” says Hallbeck.

And although working from bed may not necessarily be something you can change – or want to change – it’s important to keep in mind that your body and brain may not feel the fallout at the moment. But they could, someday. “They won’t feel it right now,” says Hallbeck, especially of younger workers who WFB. “But as they age, it will pop up.”

It may feel like one more thing to worry about in the Covid-19 era. But if this period has taught us anything, it’s that, as far as health goes, it’s better to be safe than sorry. “If you don’t have any of the negative effects, great,”says Salas. “But that might not always be the case.”

Источник: https://www.bbc.com/worklife/article/20210217-is-it-bad-to-you-work-from-your-bed-for-a-year

Children’s Long-Term Support Waiver Program

WPS Appreciates Your Work


Log in to your provider portal


Wisconsin’s Children’s Long-Term Support (CLTS) Waiver Program is recruiting providers whose services are needed to support children with disabilities. Direct care providers, mentors, carpenters, medical equipment suppliers, and other service providers are encouraged to learn more.

For more details on our new provider portal, visit our Family Care Providers or our CLTS page.


Reminder: To register for access to the provider portal, you need the following information from two of your remittances from the past 90 days:

  • Claim number
  • EFT/check number
  • Remittance date
  • Amount of the remittance

Our customers (members/participants) depend on you for top-quality health care, which is why WPS works closely with providers. We truly value our relationships with our health care providers and appreciate your participation in our network and the care you provide to our customers (members/participants).

If you are a contracted provider, you can log in to access our provider portal. The portal delivers real-time access to claim status, eligibility, network, secure messaging, and more.

Источник: https://www.wpshealth.com/providers/

As business owners like you continue to feel the impact of these unprecedented times, we’re here to help. We’re proud to have served more than 200,000 customers already with Paycheck Protection Program (PPP) loans. Eighty-four percent of our PPP customers had fewer than 10 employees, and our average loan amount of $54,000 was the lowest among all of the participating large banks, showing our commitment to helping the smallest businesses in need. We’ve already contributed over $420 million of PPP loan fees earned by Wells Fargo to our Open for Business Fund that provides grants to non-profit organizations that support small businesses facing COVID-19 challenges, especially those that work with minority-owned small businesses.

Important Paycheck Protection Program (PPP) Updates

We have stopped accepting applications for PPP loans due to the Small Business Administration (SBA) PPP funding being exhausted. We invite all of our PPP loan customers to visit our Forgiveness Center and prepare to apply for loan forgiveness.

We’re honored to have helped many small businesses with PPP loans since the beginning of the program, and have worked hard to process every loan possible before the program closed. We know some customers still have financial needs to move their business forward. Here are some available resources for small businesses:

  • The SBA offers additional options for temporary COVID-19 relief funding
  • Many local city, county and state governments provide grant or loan programs for impacted small businesses.
  • Wells Fargo offers several loans and lines of credit for small businesses.
  • The Wells Fargo Small Business Resource Center features tips, tools and guidance for adapting your business during COVID-19.

At least 60% of the PPP forgiveness amount must be used for payroll and the remaining funds for non-payroll costs to be eligible to have a loan forgiven. Forgivable expenses include:

  • Payroll costs that may include wages, salaries, retirement contributions, healthcare benefits, insurance premiums, covered leave, and other expenses.
  • Mortgage interest.
  • Rent payments.
  • Utility payments.

Additional eligible expenses added with December 2020 legislation, and are retroactive to any previous unforgiven PPP loans, include:

  • Covered operations expenditure. Payment for any software or cloud computing service that facilitates business operations, product or service delivery, human resources, or accounting, among other things.
  • Covered property damage cost. Cost related to property damage and vandalism or looting due to public disturbances that occurred during 2020 that was not covered by insurance.
  • Covered supplier cost. Expenditure to a supplier of goods for the supply of goods that are essential to operations when the expenditure is made and is made pursuant to a contract, order, or purchase order in effect prior to taking out the loan. With respect to perishable goods, the contract, order, or purchase order must be in effect at any time during the covered period.
  • Covered worker protection expenditure. Operating or capital expenditure to facilitate the adaptation of business activities to comply with requirements or guidance issued by federal, state, or local authorities in relation to COVID-19, including personal protective equipment.

Please visit the SBA website for a full list of expenses that can be forgiven under a PPP loan.

The PPP loan will accrue interest at an annual rate of 1%. No payment is due during the deferral period, which ends the earlier of:

  • The date when the SBA remits the amount of forgiveness on your loan to Wells Fargo (or informs Wells Fargo that forgiveness is declined); or
  • 10 months after the last day of your covered period, if you have not applied for forgiveness.

If your loan is forgiven, any interest accrued during the deferral period is eligible for forgiveness.

After the deferral period any balance that is not forgiven (including any accrued interest on the unforgiven portion) will become a term loan. Monthly payments will be due up to the maturity date, which is generally:

  • Two years from the date your loan was made if your loan received an SBA guarantee number before June 5, 2020; or
  • Five years from the date your loan was made if your loan received an SBA guarantee number on or after June 5, 2020.

 

PPP loans are eligible to be forgiven, in full or in part, if the SBA’s requirements are met. Borrowers can choose a covered period of any length between 8 or 24 weeks beginning on the date the borrower received the loan proceeds.

Please visit the Wells Fargo PPP Loan Forgiveness Center for additional guidance or resources regarding covered period, eligibility, use of proceeds, application procedures and documentation required to participate. You may also visit the SBA website for additional information.

All forgiveness applications for Wells Fargo PPP loans must be submitted online using the Wells Fargo PPP loan forgiveness application accessible through Wells Fargo Business Online® or Commercial Electronic Office®. We will notify you once the Wells Fargo PPP loan forgiveness applications become available.

If you received a PPP loan through Wells Fargo, your loan numbers will be automatically pre-filled for you within the application. You will not need to have them ahead of time to be able to apply for forgiveness.

To help you prepare for the PPP loan forgiveness application, review the recommended supporting documents on the Wells Fargo PPP Loan Forgiveness Center.

PPP-eligible small business borrowers may include small business concerns as defined by the SBA, sole proprietors, independent contractors, self-employed individuals, nonprofit organizations, tribal business concerns, Veterans’ organizations, destination marketing organizations, some news organizations, and housing cooperatives.

The latest round of PPP loan funding provides separate eligibility requirements for First Draw PPP Loan customers vs. Second Draw PPP Loan customers. The SBA eligibility requirements of the PPP program are comprehensive and wfb healthcare borrower characteristics such as number of employees, type of industry, date of operation, qualifying payroll cost or self-employed compensation, and other requirements. Applicants are responsible for understanding the PPP eligibility requirements and providing accurate information wfb healthcare the PPP loan application. For more information about PPP loan eligibility requirements, please visit the SBA PPP site.

All PPP borrowers must:

  • Have been in operation on February 15, 2020, or have been a seasonal employer that was dormant or not fully operating as of February 15, 2020 but was in operation for a 12-week period between February 15, 2019 and February 15, 2020.
  • Meet all additional SBA PPP eligibility requirements.
  • Have an eligible Wells Fargo business checking account in the name of the business applying for a PPP loan and are enrolled in Wells Fargo Business Online® OR have Commercial Electronic Office® (CEO®) access.1Learn more about enrolling in Wells Fargo Business Online®.

For businesses that will be taking out a First Draw PPP Loan, they also must:

  • Employ 500 or fewer employees or otherwise satisfy size standards contained in the SBA PPP eligibility requirements.
  • Meet all additional SBA PPP eligibility requirements.

For businesses that will be taking out a Second Draw PPP Loan, different or additional eligibility requirements apply. Second Draw PPP Loan customers must:

  • Employ 300 or fewer employees or otherwise satisfy size standards contained in the SBA PPP eligibility requirements.
  • Have used or will use all loan proceeds from their First Draw PPP Loan before the disbursement of the Second Draw PPP Loan.
  • Demonstrate at least a 25 percent reduction in gross receipts during appropriate quarterly or annual time periods
  • Meet all additional SBA PPP eligibility requirements.
1 If you don’t have a business checking account, one of the fastest ways to open one is to gather your required documentation and make an appointment at one of our branches. You can schedule a branch appointment using our Make an Appointment tool, or by calling the nearest branch. All business owners need to be present to open an account. With all required documents, you can usually open the checking and online banking account* during your branch visit. While you’ll be able to submit an application for a PPP loan as soon as you open a new business checking account and set up online banking, until all required account validation checks are completed for the business owners on the new business checking account, your PPP application cannot be fully processed. The required checks are often completed in a matter of days, but can take weeks depending on the completeness and complexity of the business documentation provided to open the checking account.

*To activate your Wells Fargo Business Online account you will need to set up your new debit card PIN and online banking access during the session with the branch banker before applying for a PPP loan.

The SBA requires lenders to submit a customer’s “PPP First Draw SBA Loan Number” from their previous First Draw PPP Loan when they apply for a Second Draw PPP Loan. Here are a few tips to help gather this number depending on your situation. If you are a:

  • Wells Fargo customer who had a First Draw PPP Loan with us, and you would like to apply for a Second Draw PPP Loan with Wells Fargo – You do not need to obtain or provide a PPP First Draw SBA Loan Number. We will provide this number for you during your application process.
  • Wells Fargo customer who had a First Draw PPP Loan with us, and you would like to apply with a different lender for a Second Draw PPP Loan - You will need to contact us at (844) 304-8911 to request your PPP First Draw SBA Loan Number. This number is not listed on loan documentation provided for your First Draw PPP Loan.
  • Wells Fargo customer who had a First Draw PPP Loan with a different lender, and you would like to apply with Wells Fargo for a Second Draw PPP Loan – Please contact your First Draw PPP Loan lender to request your “PPP First Draw SBA Loan Number.” This number will be required on your Second Draw PPP Loan application.

The SBA provides requirements for how to calculate your maximum loan amount. These requirements are comprehensive.  Applicants are responsible for understanding how to calculate their maximum loan amounts and for providing accurate information on the PPP loan application.  For more information about how to calculate your maximum loan amount, please view the SBA guidance documents for First Draw PPP Loans, or Second Draw PPP Loans.

Additional SBA guidance on First and Second Draw PPP Loans can be found here:

For those First Draw PPP Loan customers who have not previously received a PPP loan:

  • Borrowers can request a loan amount that is based on up to 2.5 times their average monthly payroll costs for the relevant time period.
  • The calculation for payroll costs varies based on your eligible time period.
  • The maximum loan amount is $10 million, or $20 million in the aggregate for a single corporate group (as defined by SBA PPP requirements).

For businesses that will be taking out a Second Draw PPP Loan:

  • Borrowers can request a loan amount that is based on up to 2.5 times their average monthly payroll costs for the relevant time period (or 3.5 times the monthly payroll costs for borrowers with a NAICS code beginning with 72 for the accommodations and food services sector).
  • The calculation for payroll costs varies based on your eligible time period.
  • The maximum loan amount is $2 million, or $4 million in the aggregate for a single corporate group (as defined by SBA PPP requirements).

Visit the SBA PPP site for additional information.

It is important that you supply all necessary documentation and that your documentation supports your requested loan amount to help prevent your application from being declined.

When you apply you will need to provide a requested loan amount. The SBA provides guides on calculating maximum loan amounts by business type.

Please be sure to submit necessary documents shown in the chart below, listed by entity type. This will help ensure that you include documents that support the loan amount you are requesting and to demonstrate that you meet eligibility requirements.  The documents you submit must correspond to the time period you use to calculate your maximum loan amount.

 

Category 1: Self-employed without employees

Category DefinitionDocuments to Justify Requested Loan AmountDocuments to Establish PPP Eligibility
Self-employed without employees (includes sole proprietors, independent contractors, LLCs that file a Schedule C and farmers and ranchers that file a Schedule F; does not include partners in a partnership)2019 or 2020 Schedule C or Schedule 1 and Schedule F (required)
  • 2019 or 2020 (whichever you used to calculate loan amount) IRS Form 1099-MISC detailing nonemployee compensation received (box 7), IRS Form 1099-K, invoice, bank statement, or book of record establishing borrower was self-employed during relevant time period. If using 2020 to calculate loan amount, this is required regardless of whether you filed a 2020 tax return with the IRS.
  • 2020 invoice, bank statement, or book of record establishing borrower was in operation on February 15, 2020
Self-employed farmers and ranchersSame as corresponding category above except use 2019 or 2020 IRS Form 1040 Schedule 1 and Schedule F in lieu of Schedule CSame as above

 

Category 2: Self-employed with employees

Category DefinitionDocuments to Justify Requested Loan AmountDocuments to Establish PPP Eligibility
Self-employed with employees (includes sole proprietors, independent contractors, LLCs that file a Schedule C, and farmers and ranchers that file a Schedule F; does not include partners in a partnership)
  • 2019 or 2020 Schedule C or Schedule 1 and Schedule F (Required)
  • 2019 or 2020 IRS Form 941/944/943 or third-party payroll processor reports or W-2s/W-3s (must include documentation that covers entire selected time period)
  • 2019 or 2020 state quarterly wage reporting forms
  • 2019 or 2020 Schedule C/F or records from a retirement administrator (if applicable)
  • 2019 wfb healthcare 2020 Schedule C/F or records from a health insurance company or third-party administrator for a self-insured plan (if applicable)
Payroll statement or similar documentation from the pay period that covered February 15, 2020 (showing borrower was in operation and had employees)
Self-employed farmers and ranchersSame as corresponding category above except use 2019 or 2020 IRS Form 1040 Schedule 1 and Schedule F in lieu of Schedule CSame as above

 

Category 3: Partnerships

Category DefinitionDocuments to Justify Requested Loan AmountDocuments to Establish PPP Eligibility
Partnerships
  • 2019 or 2020 Schedule K-1 (IRS Form 1065)
  • 2019 or 2020 Form 941/944/943 or third-party payroll processor reports or W-2s/W-3s (must include documentation that covers the entire selected time period)
  • 2019 or 2020 state quarterly wage reporting forms
  • 2019 or 2020 IRS Form 1065 or records from a retirement administrator
  • 2019 or 2020 IRS Form 1065 or records from a health insurance company or third-party administrator for a self-insured plan
  • With employees: payroll statement or similar documentation from the pay period that covered February 15, 2020 (to establish the partnership was in operation and had employees on that date)
  • Without employees:  invoice, bank statement, or book of record (establishing the partnership was in operation on February 15, 2020)

 

Category 4: Corporations

Category DefinitionDocuments to Justify Requested Loan AmountDocuments to Establish PPP Eligibility
S and C Corporations
  • 2019 or 2020 Form 941/944/943 or third-party payroll processor reports or W-2s/W-3s (must include documentation that covers the entire selected time period)
  • 2019 or 2020 state quarterly wage reporting forms
  • 2019 or 2020 IRS Form 1120-S (S-Corp) / 1120 (C-Corp) tax return or records from a retirement administrator
  • 2019 or 2020 IRS Form 1120-S (S-Corp) / 1120 (C-Corp) tax return or records from a health insurance company or third-party administrator for a self-insured plan
Payroll statement or similar documentation from the pay period that covered February 15, 2020 (to establish the corporation was in operation and had employees on that date)

 

Category 5: Non-profits

Category DefinitionDocuments to Justify Requested Loan AmountDocuments to Establish PPP Eligibility
Non-Profits
  • 2019 or 2020 Form 941/944/943 or third-party payroll processor reports or W-2s/W-3s (must include documentation that covers the entire time period selected)
  • 2019 or 2020 IRS Form 990 or 990-EZ (if applicable)
  • 2019 or 2020 state quarterly wage reporting forms
  • 2019 or 2020 IRS Form 990 Part IX or records from a retirement administrator
  • 2019 or 2020 IRS Form 990 Part IX or records from a health insurance company or third-party administrator for a self-insured plan
Payroll statement or similar documentation from the pay period that covered February 15, 2020 (to establish the nonprofit was in operation and had employees on that date)
Other Non-Profits (Religious Institutions, Veterans Organizations, Tribal Businesses; Non-Profits that do not file an IRS Form 990 - typically those with gross receipts less than $50k)
  • 2019 or 2020 Form 941/944 or third-party payroll processor reports or W-2s/W-3s
  • 2019 or 2020 state quarterly wage reporting forms
  • 2019 or 2020 records from a retirement administrator
  • 2019 or 2020 records from a health insurance company or third-party administrator for a self-insured plan
Payroll statement or similar documentation from the pay period that covered February 15, 2020 (to establish the nonprofit was in operation and had employees on that date)

 
Tips to Avoid Common PPP Loan Application Errors:

  1. Consider sending a cover letter clarifying how you calculated your maximum loan amount. This will assist us in better understanding your calculations.
  2. Double-check the dates of the documents you submit in support of your loan application (e.g. 2019 or 2020) to ensure they match the time period you are using as the basis to calculate your maximum loan amount. For example, if you select the time period calendar year 2020 in the application, please make sure your supporting documents align to the year 2020 only.
  3. If you are using payroll documents to substantiate your loan amount, third-party payroll documents are acceptable. Examples include CARES SBA –PPP, ADP® Payroll, GustoTM Payroll, or Paychex® Payroll Reports. If you don’t have third party payroll documents, you may provide other documents, such as tax documents.
  4. If you include employer state and local taxes assessed on employee compensation in your loan amount calculation, be sure to only include state and local taxes (not Federal, Social Security, or Medicare taxes). State and local tax amounts can be found on state quarterly wage reporting forms or payroll processor reports, and commonly reference the State Unemployment Tax Act or SUTA.
  5. Please be sure that all documents are legible, there are no blank pages, the business name and Tax Identification Number on the supporting documentation match the application, and required signatures and initials are completed.
  6. (For Sole Proprietor business customers)
    • If you have employees and you are including employee compensation in your loan amount calculation, you must provide payroll documents supporting the employee compensation amount. If you are including owner compensation in your loan amount calculation, you must provide IRS Form 1040 Schedule C. Per SBA guidance, IRS Form 1099 cannot be used to support the loan amount calculation (though Form 1099 may be used as supporting documentation for eligibility).
    • If you are not a seasonal or a new business and will select to use either tax year 2019 or 2020, please ensure you send a full year of 941’s:
      • The 941 is the “Employer’s Quarterly Federal Tax Return” (all four quarters)
      • The 944 is the “Employer’s Annual Federal Tax Return”
      • The 943 is the “Employer’s Annual Federal Tax Return for Agricultural Employees”
  7. (For Partnership business customers) If you are including partner earnings in your loan amount calculation, please note that net earnings from self-employment of individual U.S.-based general partner(s) who are subject to self-employment tax must be supported by the IRS Form 1065 Schedule K-1.
  8. (For Non-Profit business customers) A housing allowance provided to an employee as part of compensation may be included in the loan amount calculation. Supporting documentation (such as a W-2) must reflect that the housing allowance was paid to the employee as compensation.

 
How to demonstrate 25 percent reduction in gross receipts for 2nd Draw PPP Loans of $150,000 or more:

In determining whether you experienced at least a 25% reduction in gross receipts for Second Draw PPP Loans above $150,000, you must identify the 2020 Time Period meeting this requirement, the Reference Time Period, and include the gross receipts amounts for both time periods, as well as provide supporting documentation. Your supporting documentation must match both time periods you chose and substantiate the 25% gross receipts reduction.

For all loans, the appropriate Reference Time Period depends on how long you have been in operation:

  • For all borrowers, except those mentioned below, the borrower must demonstrate that gross receipts in any calendar quarter of 2020 were at least 25% lower than the same quarter of 2019. Alternatively, borrowers may compare annual gross receipts in 2020 with annual gross receipts in 2019 if they were in business in 2019.
  • For entities not in business during the first and second quarters of 2019 but in operation during the third and fourth quarters of 2019, borrowers must demonstrate that gross receipts in any quarter of 2020 were at least 25% lower than either the third or fourth quarters of 2019.
  • For entities not in business during the first, second, and third quarters of 2019 but in operation during the fourth quarter of 2019, borrowers must demonstrate that wfb healthcare receipts in any quarter of 2020 were at least 25% lower than the fourth quarter of 2019.
  • For entities not in business during 2019 but in operation on February 15, 2020, borrowers must demonstrate that gross receipts in the second, third, or fourth quarter of 2020 were at least 25% lower than the first quarter of 2020.

 
For ALL Second Draw PPP Loan Borrowers with loan requests of $150,000 or more, please plan on providing these additional documents:

Borrowers can provide the following documents to substantiate their 25% reduction in gross receipts (only one set is required):

  • Quarterly financial statements for the entity. If the financial statements are not audited, the Applicant must sign and date the first page of the financial statement and initial all other pages, attesting to their accuracy. If the financial statements do not specifically identify the line item(s) that constitute gross receipts, the borrowers must annotate which line item(s) constitute gross receipts.
  • Quarterly or monthly bank statements for the entity showing deposits from the relevant quarters. The borrowers must annotate, if it is not clear, which deposits listed on the bank statement constitute gross receipts (e.g., payments for purchases of goods and services) and which do not (e.g., capital infusions).
  • Annual IRS income tax filings of the entity is chase bank open for presidents day if using an annual reference period). If the entity has not yet filed a tax return for 2020, the borrower must fill out the return forms, compute the relevant gross receipts value, and sign and date the return, attesting that the values that enter into the gross receipts computation are the same values that will be filed on the entity’s tax return.
    • Self-employed other than farmers and ranchers (IRS Form 1040 Schedule C): sum of line 4 and line 7
    • Self-employed farmers and ranchers (IRS Form 1040 Schedule F): sum of lines 1b and 9
    • Partnerships (IRS Form 1065): sum of lines 2 and 8, minus line 6
    • S-Corporations (IRS Form 1120-S): sum of lines 2 and 6, minus line 4
    • C-Corporations (IRS Form 1120): sum of lines 2 and 11, minus the wfb healthcare of lines 8 and 9
    • Nonprofit organizations (IRS Form 990): sum of lines 6b(i), 6b(ii), 7b(i), 7b(ii), 8b, 9b, 10b, and 12 (column (A)) of Part VIII
    • Nonprofit organizations (IRS Form 990-EZ): sum of lines 5b, 6c, 7b, and 9 of Part I.
    • LLCs should follow the instructions that apply to their tax filing status in the reference periods.

The SBA provides specific instructions for completing the PPP application. Those instructions can be found on the SBA web site.

In addition, please note the following in regard to the Wells Fargo PPP loan application:

  • Who can fill out the PPP loan application?
    • The PPP loan application must be completed by an authorized representative of the borrower (your business).
  • What should I use as my TIN?
    • If the business entity applying for the loan has an Employer Identification Number (“EIN”), please use that number as the TIN for your PPP loan application. A social security number may only be used in very limited circumstances, such as when applicants are sole proprietors, independent contractors, or LLCs without an EIN. Please remember that to claim payroll and benefit expenses for more than yourself, you must have and use an EIN when you apply for a PPP loan. Be sure your Tax Identification Number (“TIN”) provided or entered in your PPP loan application is accurate. If you are applying for a Second Draw PPP Loan, your TIN must match the TIN used for your First Draw PPP Loan.
    • For certain resident and non-resident aliens, you may enter a valid International Tax Identification Number (ITIN). All valid ITINs are a nine-digit number in same format as the SSN (9XX-8X-XXXX).
  • Which address should I use as my business address?
    • You should use the legal business address (e.g., your designated address with your Secretary of State, the address on file with the IRS) of the business entity applying for the loan. Do not use a temporary address (such as if you are working from home because of COVID-19) unless that address has become the legal business address of the borrower.
  • How do I count number of employees?
    • For purposes of reporting Number of Employees, sole proprietors, self-employed individuals, and independent contractors should include themselves as employees (i.e., the minimum number in the box Number of Employees is one). Borrowers may use their average employment over the time period used to calculate their aggregate payroll costs to determine their number of employees. Alternatively, borrowers may elect to use the average number of employees per pay period in the 12 completed calendar months prior to the date of the loan application.
  • How do I select my “business category?
    • The application gives you seven business categories to choose from, as described below. If the business applying for the loan is an LLC, you must select the category based on the LLC’s tax election, for example, if a LLC is taxed as a partnership, then you would select “Partnership” as your business category.
      • Self-employed Schedule C filers without employees (using net profit to calculate your PPP loan amount): includes sole proprietors, independent contractors, and LLCs that file a Schedule C, that do not have employees
      • Self-employed Schedule C or F filers without employees (using gross income to calculate your PPP loan amount): includes sole proprietors, independent contractors, self-employed farmers and ranchers, and LLCs that file a Schedule C or F, that do not have employees
      • Self-employed Schedule C filers with employees (using net profit to calculate your loan amount): includes sole proprietors, independent contractors, and LLCs that file a Schedule C, that have employees
      • Self-employed Schedule C or F filers with employees (using gross income to calculate your loan amount): includes sole proprietors, independent contractors, self-employed farmers and ranchers, and LLCs that file a Schedule C or F, that have employees
      • Corporation (including S-Corp and C-Corp): includes S-Corporations, C-Corporations, and LLCs that elect to be taxed as a S-Corporation or C-Corporation
      • Partnership: partnerships and LLCs that have elected to be taxed as partnerships
      • Non-profit: nonprofit organizations, eligible nonprofit religious institutions, veterans organizations, and tribal businesses
  • Which “Expense Time Period” should I select?
    • The SBA provides specific requirements for how to choose the time period used to calculate your maximum loan amount. These requirements are comprehensive. Applicants are responsible for understanding how to pick the required time period. For more information, please view the SBA guidance documents for First Draw PPP Loans, or Second Draw PPP Loans.
    • Additional SBA guidance on First and Second Draw PPP Loans can be found here:
    • Borrowers must submit documentation based on the time period selected. In other words, the documentation you submit to substantiate your loan amount must cover the time period selected here. If your documentation does not match your time period, your loan application may be declined.
    • Borrowers have the following “Expense time period” options:
      • 1-year period before the date on which this loan is made: for borrowers basing their loan calculation on the previous 1-year period; per SBA rules, this option is not available to self-employed entities (sole proprietors, independent contractors, self-employed farmers and ranchers, LLCs that file a Schedule C/F)
      • Calendar year 2019 or calendar year 2020: for borrowers basing their loan calculation on either calendar year 2019 or calendar year 2020
      • January and February 2020: for borrowers basing their loan calculation on January and February 2020; per SBA rules, this option is only available for businesses that were in operation on 2/15/20 but not in operation between 2/15/19 and 6/30/19
      • Any wfb healthcare 12-week period between 2/15/19 and 2/15/20: for borrowers basing their loan calculation on a 12-week period; per SBA rules, this option is only available to seasonal businesses with employees
        • Note: for this option, you must provide the period start date and period end date for the time period you are using for your loan calculation. Please include a 12-week time period. Including a time period that is less than or more than 12 weeks may result in your application being declined.
  • What amounts do I put in the “Payroll costs” section?
    • Borrowers must input their payroll costs on an annual basis in the blanks provided. The categories for payroll costs are:
      • Owner compensation
      • Employee compensation
      • Employee benefits
      • Employer paid contributions for employee retirement plans
      • Employer paid taxes

Once you click the button “Calculate payroll costs,” your maximum loan amount will populate. If you change the entries listed above, you must click the “Calculate payroll costs” button again so that the numbers will update with the new information.

You will be given the opportunity to add any eligible EIDL loan amounts you wish to refinance. Only EIDL loans received between January 31, 2020 and April 3, 2020, are eligible to be refinanced with a PPP loan. Second Draw PPP Loans may not be used to refinance EIDL loans.

You may request less than your maximum loan amount by entering a new loan amount on the “PPP loan amount requested” line.

 
Tips to Avoid Common PPP Loan Application Errors:

  1. Consider sending a cover letter clarifying how you calculated your maximum loan amount. This will assist us in better understanding your calculations.
  2. Double-check the dates of the documents you submit in support of your loan application (e.g. 2019 or 2020) to ensure they match the time period you are using as the basis to calculate your maximum loan amount. For example, if you select the time period calendar year 2020 in the application, please make sure your supporting documents align to the year 2020 only.
  3. If you are using payroll documents to substantiate your loan amount, third-party payroll documents are acceptable. Examples include CARES SBA –PPP, ADP® Payroll, GustoTM Payroll, or Paychex® Payroll Reports. If you don’t have third party payroll documents, you may provide other documents, such as tax documents. See a listing of documents required to support the loan amount requested as well as eligibility requirements under “What documents and information do I need to apply for a PPP loan?”
  4. If you include employer state and local taxes assessed on employee compensation in your loan amount calculation, be sure to only include state and local taxes (not Federal, Social Security, or Medicare taxes). State and local tax amounts can be found on state wfb healthcare wage reporting forms or payroll processor reports, and commonly reference the State Unemployment Tax Act or SUTA.
  5. Please be sure that all documents are legible, there are no blank pages, the business name and Tax Identification Number on the supporting documentation match the application, and required signatures and initials are completed.
  6. (For Sole Proprietor business customers)
    • If you have employees and you are including employee compensation in your loan amount calculation, you must provide payroll documents supporting the employee compensation amount. If you are including owner compensation in your loan amount calculation, you must provide IRS Form 1040 Schedule C. Per SBA guidance, IRS Form 1099 cannot be used to support the loan amount calculation (though Form 1099 may be used as supporting documentation for eligibility).
    • If you are not a seasonal or a new business and will select to use either tax year 2019 or 2020, please ensure you send a full year of 941’s:
      • The 941 is the “Employer’s Quarterly Federal Tax Return” (all four quarters)
      • The 944 is the “Employer’s Annual Federal Tax Return”
      • The 943 is the “Employer’s Annual Federal Tax Return for Agricultural Employees”
  7. (For Partnership business customers) If you are including partner earnings in your loan amount calculation, please note that net earnings from self-employment of individual U.S.-based general partner(s) who are subject to self-employment tax must be supported by the IRS Form 1065 Schedule K-1.
  8. (For Non-Profit business customers) A housing allowance provided to an employee as part of compensation may be included in the loan amount calculation. Supporting documentation (such as a W-2) must reflect that the housing allowance was paid to the employee as compensation.

We will continue to keep applicants updated on their status by email and/or mailed letter. Because all applications are being handled online, our phone and branch bankers unfortunately will not be able to provide updates on the status of your application or reasons why a loan application was declined.

EIDL advances will no longer be deducted by the SBA from forgiveness amounts. Borrowers may be able to refinance EIDL loans funded between January 31, 2020 and April 3, 2020 with their first PPP loan.  Borrowers cannot refinance an EIDL loan with a Second Draw PPP Loan. For any questions related to the SBA EIDL program, or to obtain an EIDL loan payoff amount, contact the SBA Disaster Loan Servicing Center at (800) 736-6048 or refer to the SBA website.

If you’d like to make a complete payoff of your PPP loan and are using Wells Fargo Business Online® or you are a Wealth & Investment Management customer, please call (844) 304-8911. If you are a Commercial Banking customer, please contact your relationship team or call 1-800-AT-WELLS (1-800-289-3557) option 1, and then follow the prompts for loans. If you would like a letter confirming the payoff of your loan, you may request one at the time of payment or afterwards using the same contact numbers provided. Customers requesting a complete payoff of their PPP loan may be responsible for paying all outstanding principal as well as any accrued interest.

According to guidance from the Small Business Administration (SBA), repayment of your PPP loan in full before you apply for loan forgiveness will make your loan ineligible for forgiveness.

Please visit the SBA website for additional guidance or resources regarding eligibility, use of proceeds, application procedures and documentation required to participate.

For previous rounds of PPP loans, a federal court order made information about PPP borrowers available to the public. As a result, PPP loan borrowers could receive fraudulent calls, emails or letters. If you receive a suspicious email or text message, don’t respond, click on links, or open attachments. Please know that we won’t ask for confidential information—such as your card PIN, access code or online banking password—if we reach out to you. Learn more about avoiding scams.

Источник: https://update.wf.com/coronavirus/paycheckprotectionprogram/

1 Replies to “Wfb healthcare”

  1. This is why I am leaving Capital One. They keep asking what's in my wallet, when it should be on my phone

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