Need Extended Unemployment? You May Have to Reapply
Millions of Americans are out of work due to the COVID-19 crisis, and with cases surging throughout the country, hopes of a quick escape from our current recession are quickly waning. If you've been on unemployment since March, when the pandemic first began forcing Americans out of work, then you may be nearing the end of your regular unemployment benefits -- but that doesn't mean all is lost.
Most states pay up to 26 weeks of unemployment benefits, but typically, during periods of dramatic economic unrest, those benefits get extended. That's precisely what happened during the Great Recession around 10 years back, when unemployment levels stayed high for a very long time. It's an option that's on the table now, as well.
Thanks to the CARES Act, which was signed in late March to provide financial relief during the COVID-19 outbreak, Americans on unemployment can receive up to 13 additional weeks of benefits through the Pandemic Emergency Unemployment Compensation program. But one thing you do need to know is that you may not get that extra 13 weeks automatically. Rather, you may need to apply with your state again to get that additional money. And unfortunately, that could result in delays and a world of financial stress.
Source Fool.com
