Resources for Mid-Atlantic Employees and Employers Affected by COVID-19

Date March 22, 2020
Categories
Article Authors
HBK CPAs & Consultants

Employers and employees of Pennsylvania, New Jersey and New York who are affected by the COVID-19 virus have the following resources available:

Pennsylvania –
If you are employed in Pennsylvania and are unable to work because of COVID-19, you may be eligible for Unemployment or Workers’ Compensation benefits. Previously, claimants were not eligible for benefits during their first week of unemployment (the “waiting week.”) This has been suspended; eligible claimants may receive benefits for the first week that they are unemployed.

Click the link below for additional information:
https://www.uc.pa.gov/Pages/covid19.aspx

If you believe you may have been exposed to COVID-19 in your workplace, you may be eligible for workers’ compensation (WC).
https://www.uc.pa.gov/COVID-19/Pages/WC-COVID-FAQs.aspx

New York –
The 7-Day waiting period is being waived for Unemployment Insurance benefits for people who are out of work due to COVID-19 closures or quarantines.

Click the link below for additional information:
https://labor.ny.gov/unemploymentassistance.shtm

New York offers both workers compensation and disability insurance. Currently, the website does not offer much guidance regarding the COVID-19.

Click the link below for additional information:
http://www.wcb.ny.gov/content/main/Workers/Workers.jsp

The state of New York will allow some homeowners to skip their mortgage payments for three months in response to the spread of COVID-19.On Thursday, the New York Department of Financial Services (DFS) sent a letter to mortgage servicers directing them to provide several relief options in response to the outbreak, including suspending mortgage payments for up to 90 days.

Click the link below for additional information:
https://www.dfs.ny.gov/industry_guidance/industry_letters/il20200319_coronavirus_mortgage_relief

New Jersey –
A person who is out of work because their employer voluntarily closed because of the COVID-19 could be eligible for unemployment insurance.

Click the link below for additional information:
https://myunemployment.nj.gov/

New Jersey has among the most comprehensive Earned Sick Leave, Temporary Disability and Family Leave Insurance laws in the country, which cover all employees – full-time, part-time, temporary and seasonal.

Click the link below for additional information:
https://www.nj.gov/labor/worker-protections/earnedsick/covid.shtml

Small Business Association (SBA) – SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for small businesses and non-profits. These loans can provide vital economic support to small businesses to help pay for fixed debts, payroll and other bills that cannot be paid because of the COVID-19 impact. Pennsylvania, New Jersey and New York are among the states that have been approved.

Click the links below for additional information:
https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/sba-provide-disaster-assistance-loans-small-businesses-impacted-coronavirus-covid-19
https://www.sba.gov/funding-programs/disaster-assistance

Conclusion:
We will continue to follow developments and provide guidance and clarity surrounding COVID-19 business issues. We are only beginning to understand how to navigate these unprecedented times. For business questions related to or to discuss COVID-19’s effect on your business, contact your HBK advisor.

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