As the U.S. fights against 150,000 new COVID-19 cases a day, millions of Americans are losing access to the relief funding that helped keep them stable during the pandemic.
The help they needed during the surges is now being taken away as another surge continues.
What are the things Americans will soon lose?
Larger-than-normal unemployment benefits
The additional $300 per week for anyone that received unemployment benefits will be ending Sept. 6, Labor Day.
Many states cut the funding off early in hopes of bringing Americans back to work.
Health insurance assistance through COBRA
Sept. 30 marks the final day that the government will pay 100% of the health insurance premiums for workers that were laid off but kept their job-based coverage through COBRA.
Once people lose this they will likely need to find a new insurance plan because COBRA insurance is incredibly expensive. The average coverage for one month is $1,715 per family.
Child Tax Credits
The monthly payments that started in July will be ending Dec. 15 of this year.
The Supreme Court ended the eviction moratorium that was supposed to run through Oct. 3, making evictions for some states in the coming months very likely according to census data.
Rental assistance is still available.
What about the fourth stimulus check everyone’s talking about?
An online petition is circulating right now requesting the government provide monthly payments in the amount of $2,000 per adult and $1,000 per child until the pandemic ends. It almost has 3 million signatures.
The likelihood of another stimulus check seems unlikely though, as political attention has turned swiftly to the $1 trillion bipartisan infrastructure spending bill and the $3.5 trillion Democratic budget bill.
It looks like nowhere another stimulus check will be added and officials point out all the aid Americans have already received and still receive.
What Americans can do that still find themselves in need of financial assistance
- A single debt consolidation loan can help combine debt that was collected to help stay afloat during the pandemic. It will offer one payment for all debt with a lower interest rate to help pay it off quicker.
- Refinancing a home may be a good idea as mortgage rates sit just below 3% right now. Some owners find themselves paying $300 less per month.
- Make sure before making online purchases you shop around and compare to get the best deals. There are free browser add-ons that help do this for you.
- Stock market apps could help invest leftover change from purchases throughout the week, giving back a little cash.
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