As coronavirus prompts more layoffs and furloughs, here's what you need to know about unemployment benefits, health insurance and more.
If you lose your job through a layoff, you may be offeredcontinuation coverage by your former employer, which allows you to maintain the same benefits ― at your own expense ― that your employer’s health plan covered.
If your employer says your health plan can continue, your employer needs to communicate with you on how employee deductions will work when you are not getting a paycheck. “The employer would have to figure out, ‘Are we going to pay it for the employees, the employer and the employee portions, or is the employee going to pay it when they get back?’”Some companies that are doing furloughs are letting employees use their paid vacation days.
If you are laid off, your state law determines if you are paid out for unused paid vacation time or not. As for your 401, once you are terminated, you “For someone who is in limbo waiting to get reinstated for their job, that’s a real problem,” she said, adding,Is it better to be furloughed or laid off?
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus and layoffs spike number of texts to Crisis Text Line - Business InsiderOver the last two weeks, the number of texts to the Crisis Text Line has been 47% to 116% higher than on an average day.
Read more »
My Nephew Got Out Of Prison Due To COVID-19. But Where Is He Supposed To Go?'While I am grateful he was released from incarceration, I am struggling with what to do now.'
Read more »
'Tiger King' Joe Exotic's Net Worth Is a True JourneyI Got Bored and Dug into Joe Exotic's Net Worth and Now I Regret Everything
Read more »
The Queen Delivers a Special Broadcast Regarding the Coronavirus Pandemic'I am speaking to you at what I know is an increasingly challenging time.'
Read more »
Mark Cuban: The biggest mistake a company can make is laying off people over email'Communication is key. Transparency is key. You can't B.S. people,' says Mark Cuban.
Read more »