The coronavirus has caused massive business closures as well as employee layoffs and furloughs. Here is some helpful information to guide you through this troubling time.
If you lose your job or are furloughed because of the coronavirus, or if the company you work for is permanently or temporarily shut down because of it, you qualify for weekly unemployment payments from the state in which you work.
The $2.2 trillion rescue package known as the Cares Act also opens the door for gig workers, freelancers and the self-employed, to qualify for unemployment benefits.
You can make an unemployment claim online or over the phone. In Rhode Island the website is www.dlt.ri.gov/ui/contactus.htm and the phone number is (401) 243-9100. If you work in Massachusetts, the website is www.mass.gov/unemployment-insurance-ui-online and the phone number is (617) 626-6338.
States have certain requirements and conditions about who can collect unemployment benefits such as requiring you to be actively looking for work while they collect payments. You also may also have to prove you were doing meaningful work before you became unemployed. It is generally required you have worked consecutive quarters and collected a paycheck for certain amount of time during those quarters.
There is other help coming. The rescue package will provide a one-time $1,200 payment to adults making as much as $75,000, and $2,400 payments to married couples making less than $150,000 combined. Parents will also receive $500.00 for each dependent child.
If you’re single and making more than $75,000, but less than $99,000, you’ll get a smaller check, according to the IRS. The same goes for couples earning more than $150,000 but less than $198,000.
If you have lost your job, your health insurance benefits usually end when you leave, which leaves you with two main options. You can keep your employer’s plan for up to three years through COBRA but you will have to pay for the premiums yourself. For most people the cheaper option is purchasing insurance though the Affordable Care Act, commonly known as Obamacare. Since you’ve lost your job, you may get a hefty government subsidy that will make a policy purchase through www.healthcare.gov or www.healthsourceri.com more affordable.