Overview of Unemployment Insurance Benefits
During a period of unemployment, it is important to learn about the Department of Labor’s Unemployment Insurance (UI) program. In order to be eligible for unemployment assistance, workers must have lost their jobs through no fault of their own. Unemployed workers can discover the potential amount of financial benefits they may be able to receive if they meet the eligibility requirement to for unemployment assistance.
About the Unemployment Debit Card
Many states utilize an unemployment debit card in order to provide beneficiaries with their financial assistance. Depending on the state, the unemployment insurance benefits for participants in the program can be paid out on a weekly, biweekly or monthly basis. Beneficiaries can have their funds automatically deposited onto their debit card as long as they continue to meet the eligibility requirements for the program and file their unemployment claims in a timely manner.
However, program participants should be aware of the potential disadvantages of using an unemployment debit card. For example, these cards may have service fees tied to different types of transactions such as ATM withdrawals, debit card use and more. In order to reduce total fees, participants have the choice to withdraw their entire benefit payout from an ATM instead of making multiple withdrawals in smaller increments.
How to Set Up Direct Deposit for Your Unemployment Benefits
Participants in the UI program have the option to set up direct deposit to receive their benefits directly into their bank accounts instead of onto a UI debit card. Most, but not all, states are offering to distribute benefits through direct deposit as an alternative to receiving a UI debit card. Beneficiaries will need to contact their state’s Department of Labor office to see if direct deposit is offered within the state.
Additional Resources for Unemployment Insurance Program Participants
There are also a variety of helpful additional benefits and resources that are available alongside the Unemployment Insurance program. For example, you can take advantage of the numerous resources in order to help you find a new job including free job boards and tips for applying for jobs online and in person. You can also learn about different opportunities that allow for you to work from home and many other benefits that can be helpful if you are currently out of work.
Tips for Your Job Search
In order to continue to receive benefits from the UI program, you will also need to maintain your job search. Typically, the best way to find a job is by diversifying your search between multiple places and websites. By submitting online and offline applications for different positions, you can increase your likelihood of finding new employment. There are also a number of additional resources and networking opportunities such as job fairs that can be beneficial while you are looking for jobs.
As you go about your job search, it is important to continue applying at various different openings in order to increase your chances of being hired. You can continue to apply even while you are waiting to hear back from or to interview with a prospective employer. Another popular tip for job seekers is to take the time to meet with a hiring manager in person after you submit an application or conduct an interview.
Free Online Job Boards
There are many different online job boards that are available online that can assist you in finding open positions and potential employers in your area. These job posting sites are a good way to submit your resume to multiple different companies without having to travel to each of them in person. These online boards are one of the many resources available for unemployed workers who are looking for their next job.
You may also be able to find out about potential leads on jobs by visiting your local unemployment office. In some cases, your local unemployment office may refer you to job openings or pass your resume on to hiring managers. By using both online and offline resources, you can improve your chances of finding a new career in a shorter amount of time.
Work from Home Jobs
As more and more people have gained access to the internet, work from home jobs have become more popular due to the convenience and flexibility that they offer workers. There are a wide variety of different opportunities to remotely work from home such as writing, customer service, transcribing, data entry and more. Many of these positions are offered on a contractual basis, meaning that most remote workers are considered self-employed.
Affordable Health Insurance
While you are unemployed, you might be wondering where to find affordable health insurance. Finding adequate healthcare coverage with little or no income can seem almost impossible. Medicaid is a government assistance program that can provide health insurance for unemployed workers during their time of need. Millions of low-income Americans receive comprehensive healthcare coverage from Medicaid each year.
Although your options may be limited, you may be qualified to receive health insurance through government assistance if you meet your state’s income eligibility requirements. However, it is important to note that eligibility requirements and coverage amounts may differ from one state to the next. In order to check if you are eligible for Medicaid health insurance, contact your local Medicaid office.
How to Get Out of Debt
Once your period of unemployment has ended, it is vital that you learn about how you can start paying off debt that you may have accrued in that time. As you begin to pay off your debt, you will be on the way to improve your overall financial standing. Paying off your debt in a timely manner can prevent you from overpaying due to interest rates and late fees. Additionally, carrying debt can have a negative impact on your overall credit score.
Typically, creditors will submit reports to a minimum of one of the three credit bureaus every one to three months. Late payments will be reported, which could potentially damage your credit score. In order to prevent your credit score from being lowered, you may want to reach out to your creditors and see if you can establish a payment plan for your debt.