What is Unemployment Insurance?
Unemployment Insurance is a program available in the majority of States that helps workers who are unemployed through a condition that wasn’t their fault. The program provides temporary financial assistance through unemployment payments (benefits).
Eligibility
- In order for an unemployed individual to qualify for Unemployment Insurance, he/she has to meet the State requirements for time worked and wages earned throughout an established period of time – also known as a “base period”.
- Earn at least $2,250 or $1,500 during one calendar quarter, and at least $750 during the base period.
- The total wages in the base period must be at least 1.5 times the highest wages earned in a quarter, or made close to $19,500 in at least 2 out 4 base period quarters
- The end to the individual’s employment relationship must be determined under a condition that isn’t their fault, or if the individual quit for a good cause rating to the employer or the work.
- The unemployed individual must be actively seeking for new employment
Benefits
Unemployment benefits are based on the percentage of the individual’s earnings in a recent 52-week period. The temporary compensation is subject to federal taxes, but the person has the option of to have taxes withheld from their unemployment check.
Benefits can be received for 26 weeks (maximum), but the period can be extended during a time of high unemployment.
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