The CARES Act is a federal law enacted in 2020 to provide economic relief due to the impact of COVID-19. The CARES Act provides additional funds for Medicare and Medicaid services, including expanded telehealth coverage and waived cost sharing for certain healthcare services. It also offers financial assistance to individuals, such as one-time stimulus payments, extended unemployment benefits, and reduced student loan payments. Additionally, the CARES Act provided additional federal funding to states for Medicaid programs.