Thursday, November 20, 2008
Friday, November 14, 2008
According to the Detroit Free Press:
IOU raises jobless taxes for 40,000 employers
By CHRIS CHRISTOFF
FREE PRESS LANSING BUREAU CHIEF
Hard economic times have caught up to Michigan’s unemployment insurance fund in a big way.
About 40,000 Michigan employers will pay an extra $67.50 per employee in January to help pay off a $472.8-million shortfall in the state unemployment benefits fund.Read the rest of the article here
Thursday, November 13, 2008
One good idea that it mentions is that if you're still in the open enrollment period for picking your health-care plan--and--you expect layoffs could be coming, you can select a lower-cost health plan, which should lower your COBRA insurance payments should that be the best plan you can get if you are let-go.
Nevertheless, you should contact other health insurance companies to get a health insurance quote and to decide what is best for your family.
Wednesday, November 12, 2008
The state of Ohio may see it's unemployment coffers run dry in late 2008.
There are many other states that are running into this issue, and I will try to put up a list. States such as Ohio can borrow money from the feds, but don't be surprised if this will cause employers to pay higher premiums, and unemployment benefits to be reduced in the future.
I have found that it is beneficial to shop around for health insurance. Firms such as Assurant, Cigna and Blue Cross/Blue Shield all offer individual and family plans---Assuming you don't have significant preconditions, these firms will likely offer you a lower price than COBRA, and they offer you the opportunity to raise your deductable to further reduce your monthly premium.
I am not an expert in the details of each states program, but I suggest you contact them as soon as possible to determine your eligibility and weekly payout amount.
You can find your state's unemployment website here:
It's important to note, in order to continue to receive the unemployment checks you will need to be (1) actively looking for work each week. and (2) contacting the unemployment agency to verify that you were able to work and looking for work.
- Human Resources (in case you have to speak to somebody about COBRA, your 401-k, your W-2's)
- Your manager and peers (future employers and placement firms will want to speak to folks who can give you good recommendations)
- Suppliers, customers, and other contacts---these contacts can be very useful in building your network, once you start your job search.
I plan on providing various nuggets of information including:
- Tips on what to do before you walk out the door
- Advice on how to handle your first days/weeks of not working
- Some helpful job-hunt tips
- and, various statistics about the economy & unemployment rate