GREENSBORO, N.C. — Remember when Congress couldn't make a deal on a second stimulus package? The President then signed an Executive Order including a $300 Federal unemployment benefit (It would be $400 if the states can add in the other $100).
That headline of a benefits extension was all most people heard. There are 3 major details you need to know about that headline.
#1 The benefit is for just 3 weeks
The $300 a week of LWA benefits or Lost Wages Assistance is only for 3 weeks for now. The selected dates: the weeks ending August 1, August 8, and August 15.
If you were already receiving unemployment benefits or you applied during those dates you can be eligible for that supplement.
“Individuals who are eligible would receive it, there is no special place for them to need to submit a claim, it will be based on their normal certification,” explained Chris Rivera, Executive Director, Guilford Works.
NC applied for the money to give this $300 Federal benefit and the application was accepted.
“The state is currently in the testing phase of how they're going to determine and distribute these funds. If you're collecting state or federal benefits, continue your recertification”, said Rivera.
#2 You must receive or have been approved for $100 in benefits
The way the Executive Order is written, the extra $300 only goes to folks who were approved for at least $100 of unemployment benefits by the state. If you weren't approved for $100-dollars of benefits by the state-- you can't get this $300. Know this, if you were confirmed for at least $100 at one point but now you’re getting less because you’re working some hours, you can still be eligible.
#3 How the benefits are funded
FEMA money is being used to fund this. If FEMA exhausts all of the funding, $44 billion to all the states or if the Disaster Relief Fund goes below $25 billion, more benefits are out.
“FEMA will be assessing after the first round of award and to see if there is money to extend that beyond the three weeks,” said Rivera.
What are the chances of that? Well, we have two storms taking nearly the same path in a matter of 2 days.