The Coronavirus Aid, Relief and Economic Security Act Expands Unemployment insurance. It does Three Primary Things:
- Offers bigger unemployment checks
- Increases the duration of those payments
- Extends jobless benefits to the previously ineligible groups such as the self employed, sub contractors, freelancers and “gig workers.”
The bill increases the amount paid an additional $600 per week for four months and offers an additional 13 weeks of unemployment insurance. That means a maximum in Maryland of $1,030.00.
So how much will you be paid depends on your state. The average benefit per state is $385 per week, to calculate MD’s unemployment rate take your gross wages in the two highest quarters and divide by 2 then multiply by .0385 to get your WEEKLY benefit. If you make $40,000 per year or $10,000 per quarter you would take the two quarters, $20,000 divide by 2, $10,000 and then multiply by .0385 which would equal $385 per week, you can get a maximum of $430 from Maryland.
With the new bill that $385 in the example above becomes $985 per week for four months and another roughly 23 weeks of $385. You need to remember that unemployment insurance is taxable.
Who qualifies for unemployment, if you were laid off or furloughed you can collect unemployment insurance. The benefit also now includes self-employed workers, people seeking part-time work, workers who cannot reach their place of works as a result of the virus and those that do not have sufficient work history to normally qualify for unemployment.
It should be quicker to file for unemployment insurance online. For Maryland the link is:
It normally takes about 2 to 3 weeks to receive your first check but with the recent onslaught of people that are unemployed it may take longer.