If you are without a job now, you will benefit from learning more about the Unemployment Insurance program. You should understand the eligibility requirements and the possible amount of financial assistance that you can receive while between jobs.

Aside from understanding unemployment benefits, reviewing the additional ways you can find another career path. This can be done by using both online and offline career searching methods as well as free job boards. 

Being unemployed can make it challenging, perhaps even impossible, to get affordable health care. The price you pay for health care will vary depending on the state and your current financial situation. With these factors in mind, you may be eligible for state or government assistance. Once you are off the job market and already working, you can begin to work towards any available debt you accrued while unemployed. This is how you can improve your overall financial situation.

Summary of Unemployment Benefits

Unemployment Insurance (UI) is a program procured by the government that provides temporary financial aid to workers who have become unemployed for reasons that were not their fault. To be considered eligible for worker’s compensation, applicants must meet certain requirements like minimum wage and work length. These requirements will vary between states as well as the amount they are compensated. 

Workers who have recently lost their job or have severely reduced hours must apply immediately for UI. One important detail to note is that applicants and beneficiaries must file claims continuously and maintain their eligibility. They must also continue looking for work while receiving benefits. 

Using Unemployment Benefits With a Card 

Most states will provide their beneficiaries with an unemployment debit card so they can directly receive their funds on weekly, biweekly or monthly. The frequency of compensation will vary from state to state. The funds will be automatically deposited on a set date every time as long as the UI beneficiary continues to meet eligibility requirements and filed necessary claims on a timely basis.

On the other hand, there are potential drawbacks to the unemployment debit cards. These will typically accrue fees for different transactions including ATM use, debit card use and others. Beneficiaries can decide to use their card to withdraw all their funds at an ATM. This action will only incur a small fee. 

Learning How to Set up Your Direct Deposit

To set up a direct deposit, you need to contact your state Department of Labor office. They will tell you if a direct deposit is an option in your state. Most states have started to provide UI beneficiaries with enrolling in direct deposit rather than giving them a UI debit card. 

Direct deposit has its benefits, including the elimination of card fees and not needing to go to the bank to deposit your funds. Beneficiaries can use up to but not more than the amount on a UI debit card. This means that recipients often have a minuscule amount remaining, as it can be difficult to use the exact amount on a card. Therefore, direct deposit is thought to be more convenient.

This comprehensive guide has several resources and enough information to ensure that you are aware these resources are available to you. Our experts have consolidated this information and will continue to provide more resources over the next couple of days, so remember to check your inbox. While you are waiting, you can look over the information on:

  • Finding a Job.
  • Free job posting online.
  • Working from home.
  • Affordable health insurance.
  • How to get out of debt. 

Looking for Work 101

You can increase the possibility of discovering a new career by applying for a job through several employers, either online or offline. Other resources can also aid you in reaching out to more employers, such as job fairs.

While you are waiting to hear back from potential employers, continuously applying for jobs and searching for opportunities is important. This is an important part of the UI program since you must make a specific number of attempts to find a job weekly to continue receiving your benefits. Contacting with the hiring manager after applying or an interview can increase your chances of getting hired.

Searching Online for Free Job Postings

As a UI beneficiary, you may participate in a career training program through the Department of Labor. The eligibility and duration for these training programs can vary depending on the state and area. For instance, some states may offer a six-month career training program if you meet their specific job requirements. This can increase the possibility of getting noticed among several applicants, especially if you lack experience in a particular field.

There are several job posting websites to spread your resume to other employers within your area. These websites are convenient since they allow you to continue your job search anywhere. If you do not have internet access, you can always visit your local library or unemployment office. Your local unemployment office may also refer you to potential job opportunities or pass your resume on to a hiring manager.

Utilizing all the resources within your grasp will allow you to find a career in a shorter span of time. Do not hesitate to use online and offline resources. Certain hiring managers may have a preference over one type of application than another. This preference can influence the kind of jobs you apply for and if you are selected for an open position.

Working From Home

The prevalence of work-from-home jobs has risen in recent years because of the convenience and flexibility. Additionally, there are many careers that are offering remote opportunities. Some professional fields that are providing this are writing, customer service, transcriptionists, data entry and other jobs. 

If you want to find a job opportunity that allows you to work remotely, then one detail to note is the majority of these positions hire with a contract. Hiring on a contract-basis means you may not be considered an employee but rather a self-employed person.

There are job boards available in helping you find a job in your area. Otherwise, you can look online since there are many websites and apps that have job listings for a “pre-need” basis. Two examples are Care.com and or Rover.com.

The last thing you can do is check your unemployment office about starting a business. These offices contain additional resources, like education or training to give your business a head start.

Finding Out How to Obtain Health Insurance While Unemployed

Maintaining your health as an unemployed individual is important so you can get back into the workforce. Finding affordable health care can seem impossible when you have minimal to no income. Luckily, it is possible to obtain health care despite this financial challenge. 

There are government assistance programs available for people whose resources are limited and in need of health care coverage. This kind of health care can depend on the state that you live in, but it is available for qualifying unemployed individuals.

Millions of Americans receive the benefits of Medicaid, a government program that provides comprehensive health care to low-income households and individuals. Income is the main factor for considering the eligibility of a household, but this factor, as well as others, can vary from state to state. The federal government determines the minimum coverage that needs to be given within the Medicaid program, but state governments can provide additional coverage. 

Medicare is another government program providing health care to low-income income applicants who are of a retired age or a disabled person. Medicare offers different options, which allows recipients to customize their health care packages to their needs. Additionally, it is possible for a Medicaid beneficiary to receive Medicare too. As long as they meet the requirements, they can receive additional cost reductions. 

On Healthcare.gov, you can receive quotes for health insurance premiums and expenses to find the right health care for you. The quotes can help you revise your selections and determine the income-based credits you can qualify for. 

When looking for a quote, the website will prompt you to input your personal information such as household size, the personal information of each household member and income level. It will also inquire about the statuses of each household member. Afterward, you will be notified if you are eligible for government healthcare.

Discovering How to Get out of Debt

If you have little income or have just started a new career path, paying off your debt can seem challenging. You must remember to be punctual when it comes to paying off your debts. This is to prevent the increase of interest rates and late fees, which will increase the amount of debt owed. Late payments are recorded so that information will be reported to the bureaus, which can damage your credit score.

Understanding how the debt you have can affect your credit score can better prepare you to negotiate with your lenders. This understanding can also prevent your account from ending up at a collection’s office. Lenders will normally report to at least one of the three credit bureaus. They will send their reports once every one to three months. 

If you an overwhelming amount of debt, then it is possible to arrange with a lender to enter a payment plan. These plans can help avoid demerit records in your credit history. If your account does continue to lower your credit score, remember that it is better to approach lenders directly before that debt reaches a collection’s office. 

When an account goes into collections, it will have a more negative impact on your credit score and overall credit history. The information for this can last up to seven years on your credit history. 

In order to get assistance in paying off tax debt, you will need to contact the IRS office to ask for a payment arrangement. Creating a payment plan with the IRS ahead of time to reduce your tax-related debt. It is better to make these arrangements since failing to pay off tax-related debts can have many consequences. Some examples are: 

  • High-interest rates 
  • Additional fees
  • Wage garnishment
  • Withholding of future tax refunds.