Amidst the COVID-19 pandemic, businesses are facing unprecedented challenges, and many non-essential businesses are closing in many states. According to the U.S. Bureau of Labor Statistics, “the unemployment rate increased by 0.9 percentage point to 4.4 percent” in March 2020, as the number of unemployed Americans increased by almost six million.
Am I Eligible?
Each state sets its own eligibility requirements for unemployment insurance benefits but given the circumstances, the President signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 into law.
The CARES Act establishes a new temporary federal program, Pandemic Unemployment Assistance (PUA), which provides up to 39 weeks of unemployment compensation, and offers funds to states for program administration. Once your state enters into an appropriate agreement, the standard one-week waiting period will be eliminated for applicable state unemployment insurance benefits, and under the Federal Pandemic Unemployment Compensation (FPUC) program, individuals obtaining PUA benefits can also receive an additional $600 weekly benefit amount (WBA) through July 31, 2020, above their regular state unemployment compensation benefit.
PUA expands to state eligibility in several specific instances related to the COVID-19 health pandemic. Read more about this expansion here.
PrimePay is here to answer your questions and provide resources as you respond to COVID-19 and its effects on your company, employees and communities. For more information regarding accessing unemployment resources in your state, please reference the “State by State: Unemployment Resources for COVID-19” page that will take you directly to your state's unemployment resource page.
PrimePay is here to help.
PrimePay's Unemployment Cost Management Tool assists you with:
- Cost Containment
- A cost-effective way to manage your unemployment claims.
- Improved Administration Workflow
- Alleviate administration time and increase organization.
- Risk Avoidance
- A dedicated network of specialists, working alongside you as you navigate the unemployment landscape.
Click here to learn more.
Disclaimer: Please note that this is not all-inclusive. Our guidance is designed only to give general information on the issues covered. It is not intended to be a comprehensive summary of all laws which may apply to your situation, treat exhaustively the subjects covered, provide legal advice, or render a legal opinion. Consult your legal advisor regarding the specific application of the information to your plan.