Buzz
Setting aside the jokes about Netflix binges and social distancing, the ongoing coronavirus crisis is leading to financial uncertainty for many people. From workers dependent on tips to staff at now-canceled festivals and trade shows, there are many situations where the regular income you rely on may not be available.
For some, it may be a minor inconvenience. But if the situation is causing you more stress than just tightening your budget for a few weeks, there are resources available to help you manage.
If you're unable to work
The U.S. Department of Labor has given states the authority to adjust their laws, allowing individuals to access unemployment benefits during the pandemic.
Those unable to work due to coronavirus precautions or temporary quarantine can apply for unemployment benefits. If you must leave your job permanently because of exposure risks or to care for a family member, you are also eligible to receive benefits.
Visit your state’s unemployment application site for more information. By going to Benefits.gov, you can find a directory of unemployment insurance program websites for each state, along with essential details like phone numbers and application URLs.
If you’re struggling to afford food
If you need urgent access to food, call the USDA National Hunger Hotline at 1-866-3-HUNGRY (1-866-348-6479) or 1-877-8-HAMBRE (1-877-842-6273). The hotline provides assistance in both English and Spanish and operates from 7 a.m. to 10 p.m. Eastern time.
To apply for the Supplemental Nutrition Assistance Program (SNAP), get in touch with your state’s SNAP office. You can locate your closest office by using this directory.
If you’re feeling unwell
Congress is currently working on passing a bill to cover the cost of coronavirus testing for everyone, regardless of their healthcare plan. This includes doctor visits and emergency room services. Those with high-deductible plans will be able to get the test and related care without having to meet their deductible, and individuals without insurance will have access to free testing.
However, don’t wait for Congress to take action if you’re unwell. If you experience symptoms of the coronavirus, reach out to a local walk-in clinic for guidance on your next steps. If there’s a free clinic in your town, they might be able to provide direction over the phone. And of course, in case of a medical emergency, call 911.
If you’re struggling to pay your bills
If you foresee difficulty paying your credit card, mortgage, car loan, or other bills on time due to unemployment, contact your bank as soon as possible to explore alternative arrangements.
Capital One reached out to its customers saying, “Capital One is here to help, and we encourage those impacted to contact us so we can discuss how we might assist.”
Chase sent an email to customers detailing its branch protocols, inviting individuals in financial distress to call for support, and reminding everyone on how to avoid scams.
If you typically ignore promotional emails from your bank or credit card issuer, be sure to check your spam folder or search your inbox for “COVID-19” or “coronavirus.” I've observed that most financial institutions are using these terms in their subject lines.
Forbes is maintaining an updated list of banks offering support to customers, including assistance with minimum payments, deferred loans, or fee waivers.
If you have additional financial concerns related to the coronavirus and are unsure where to turn, feel free to leave a comment or email me at [email protected]. I'll continue to add resources to this list as I come across new options.
