Stimulus Act Benefits For The Unemployed
Thursday, May 28th, 2009Make sure you are staying up to date and current with all the latest news and acts for the unemployed. This information was provided to us by The Career News.
LOS ANGELES, CA — A number of provisions to help the unemployed are included in the American Recovery and Reinvestment Act (ARRA). Here’s a list of some of the major benefits. Offerings vary greatly by state, so check with your local unemployment office to find out what exactly is available to you.
Increased Unemployment Benefits: new temporary federal compensation program suggests states up the unemployment benefit $25 per week. COBRA Changes: a new COBRA subsidy, available to individuals who were covered under their prior employer’s health insurance plan and were involuntarily terminated from employment. Eligible individuals will now only be required to pay 35% of the COBRA premium instead of the full amount Assistance for Older Workers: Older workers may benefit from an additional $120 million earmarked for the Senior Community Service Employment Program. The program helps unemployed, low-income workers aged 55-plus get training.
Part-Time Work: Prior to the ARRA’s passage, unemployed workers in 28 states who were looking for part-time work were not eligible for unemployment benefits. Under the new Act, states qualify for federal dollars if they modernize their unemployment compensation systems. Tax Break: a tax break for unemployed workers, exempting the first $2,400 of their 2009 unemployment benefits from taxation. Previously, the entire amount received could be taxed.