Title: How long does unemployment insurance last?
Headings: How long does unemployment insurance last?
How long does unemployment insurance last?
How long unemployment benefits last during the pandemic
Some workers may earn more from unemployment than their jobs
More unemployment coverage could be on the way
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Content: Legislators say replacing 100% of earnings for the average worker was by design in order to provide a crucial lifeline to Americans to keep the economy afloat as much as possible. “This size of an increase is unprecedented,” Wayne Vroman, an economist with The Urban Institute, told CNBC Make It. In 2009, following the Great Recession, a federal stimulus package increased unemployment benefits by just $25 per week. “ So $600 is in different league; it could go a long distance in stabilizing American household income and help to maintain purchasing power for the consumer sector of economy.” Additionally, “In this particular period in history, getting an unemployment check isn’t good just for you, but it’s good for the local economy, and it’s an important public health measure,” Michele Evermore, senior policy analyst with the National Employment Law Project, told CNBC Make It. “ People need to take these benefits and not be making ends meet by going out to work.” While expanded unemployment benefits can provide jobless Americans with continued income, it doesn’t make up for lost employer-sponsored benefits, such as health insurance. Workers who received health insurance from their employer can remain covered for up to 18 months through COBRA, but this is often an expensive option. Furloughed workers, meanwhile, can retain company-sponsored benefits if their employer chooses to offer it, and they also qualify for unemployment.