It’s not an exaggeration to say the world has been turned upside down as a result of the coronavirus pandemic. Most of the country remains shut down as states try to limit exposures and the number of cases in their states. As a result, many are facing unforeseen economic hardships.
To help support the country, the federal government created a stimulus package called the Coronavirus Aid, Relief, and Economic Security (CARES) Act. One of the components of the act included a significant expansion of unemployment benefits. Here’s what you need to know.
More People Are Now Eligible to File
Traditionally, unemployment benefits were only available to employees who were out of work at no fault of their own. Because this time is anything but traditional, the CARES act opened up UI to workers that fall under a number of different categories.
For example, gig workers and part-time employees are now eligible. You don’t have to be laid off to file, either – you’re eligible if you had to quit due to coronavirus, your workplace closed, you weren’t getting enough hours, you’re a caregiver and needed at home, among additional reasons.
Workers Will Receive Additional Funds Through UI
Specific amounts available, including maximum weekly benefits, still vary by state. This hasn’t changed, but there is an additional Federal Pandemic Unemployment Compensation of $600 a week that is available regardless of whether or not you have maxed out what is available to you in your state. This expansion also includes 13 extra weeks of benefits.
The Federal Government is Supplementing the UI System
With all the additional claims being filed and money being given, you may be concerned about your own future tax rates and current fund available. To combat this, the federal government is supporting the unemployment insurance system with $250 billion dollars to ensure any employee displaced by the pandemic has access to support.
Employee Benefits May Still Be Available in Addition to UI
Many people in the country are furloughed, but under the CARES Act, they are still eligible to apply for unemployment insurance. As a result, these workers can continue their employer benefits and collect unemployment without issue.
Get the Unemployment Insurance Support You Need
Now more than ever may be the time to get the help you need in managing your unemployment claims. Whether your own workforce is reduced or you see more claims come in, we have the options to meet both your needs and budget. Contact Unemployment Tracker today to learn more about how we can help you.