With the sudden eruption of economic calamity, and more than 247 million Americans under stay-at-home orders, some 3.1 million individuals filed for unemployment in the last week of March.
To counter the blow to their income, Congress passed and President Trump signed the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, which in part allocates around $250 billion in unemployment benefits for the workers who have lost their jobs due to the coronavirus pandemic.
The CARES Act extends unemployment insurance benefits to workers who are not eligible for additional benefits at the state level, as long as they lost their jobs due to the outbreak.
The new law also extends benefits to part-time employees, freelancers, independent contractors, gig workers and self-employed individuals. While gig and self-employed workers are newly eligible for unemployment benefits, they may not qualify if they don’t have the proper work and pay documentation.
The unemployment benefits under the CARES Act also apply to furloughed employees who file unemployment claims with the state.
Depending on your state, workers will be able to collect both state unemployment and federal unemployment through the CARES Act, which was designed to augment any unemployment benefits workers may receive in your state.
The Pandemic Emergency Compensation program funded by the CARES Act will provide an additional $600 per week on top of state unemployment benefits through July 31. It will also extend state-level unemployment insurance by an additional 13 weeks. For example, whereas most of California’s unemployment benefits last 26 weeks, the bill extends state benefits to 39 weeks. The extended benefits will last through Dec. 31.
Another part of the CARES Act is the Pandemic Unemployment Assistance program, which will provide up to 39 weeks of benefits for those who are not typically eligible for state benefits, such as people who are self-employed or people who did not work enough last year to qualify for unemployment benefits.
Many states have a one-week “waiting period,” before benefits start, so often the person won’t be paid unemployment the first week they are off work. This law pushes states to waive that period by paying the full cost of that week of benefits as soon as they become eligible.
Also, some states require that people applying for unemployment benefits have been employed for a certain period of time. The CARES Act effectively waives work history requirements and allows any workers who usually wouldn’t qualify to receive unemployment benefits.
BGES Group’s office, located in Larchmont, NY is a full service insurance agency offering, Property, Liability, Umbrella Liability, Business Auto, Bid & Performance Bonds, Inland Marine, Worker’s Compensation, New York State Disability, Group Health, Life insurance, Personal lines and Identity Theft.
BGES Group are Worker’s Compensation Specialists for the States of New York, New Jersey and Connecticut – Issues we address: 1) Lowering pricing – we have specialty programs that can save you up to 40%; 2) Finding a new company; 3) Being cancelled or non renewed; 4) Audit disputes; 5) Company creating fictitious payroll at audit time; 6) Lowering high experience modifications factors; 7) Misclassification of payrolls; 8) Lowering or eliminating renewal deposits; 9) Getting coverage when you’ve been without for a few months; 10) Covering multiple states under one policy; 11) Eliminating 10% service or policy fees; 12) Timely issuance of certificates; 13) Always being able to get someone on the phone or by email when you need to.
Special Contractor Insurance Programs (NY) – We we have 50+ insurance companies to market your general liability, umbrella liability, business auto, workers compensation, bid & performance bonds and group health coverages. We help contractors set up proper risk transfer mechanisms. If you’re a contractor we offer extensive information about insurance markets, coverages, risk transfer mechanisms, subcontractor screening, ways to lower your insurance costs that lower them.
New Jersey and Connecticut Contractors: We have a competitively priced (savings up to 50%) General Liability, Umbrella Liability, Business Auto, Workers Compensation program. Want to lower these costs? Get a quote today!
Smart Home Security Systems – Protect and manage what matters most. You’re in control with simple, affordable security, and home automation. Click here to learn more.
Identity Theft – Over the past year hundreds of thousands of people have had to deal with identity theft. This has become such a huge problem so we now offer Identity Theft Protection. We heard stories of kids going for car loans and learning they owe $200,000+ to companies they never heard of. Under our program you can protect yourself, spouse and children. Anyone you know can purchase this protection though our plan! Click here to learn more or sign up.
If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.
Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538
© – Copyright – 2019 – BGES Group