New regulations are significantly more favorable. However, the application process for unemployment benefits has become quite challenging. Here's how to ensure you receive the maximum amount available.

Applying for unemployment has turned into a widespread task across the nation. Since mid-March, over 30 million individuals have submitted claims — and that's just those whose requests have been processed.

A recent study from the Economic Policy Institute (EPI) found that for every 10 individuals whose applications were successful, 3.7 more attempted but couldn't finish their applications, while another two abandoned the process entirely due to its difficulty. This means nearly 14 million people may not be receiving the financial aid they qualify for.

Even after filing a claim, waiting for it to be processed can be painfully slow.

Technical issues, lengthy delays, and confusion are common, as many state unemployment offices are overwhelmed with claims and have outdated systems. Even after submitting your claim, the wait for processing can be agonizing. An analysis by the Associated Press indicates that approximately 87% of those who filed claims in mid-March to early April are still in limbo. In New York, 30% of claims remain unprocessed; in California and Texas, two-thirds of applicants are similarly stuck.

It's frustrating, but don't lose hope — especially if you were previously ineligible for benefits. You might be overlooking thousands of dollars.

1. Review the updated unemployment eligibility criteria

The CARES Act allocated $1 billion for states to broaden unemployment benefits until December 31, 2020. Additionally, it provides extra weekly payments through July 31, 2020, on top of your state's standard benefits. (Each state has specific calculations to determine eligibility and benefit amounts.)

Self-employed individuals, contractors, part-time workers, and those disqualified under former regulations are now eligible for unemployment support! This also applies to anyone forced to leave work due to the pandemic (for instance, caregivers for sick family members or parents managing children at home). Here are more significant updates:

2. Apply for unemployment benefits immediately

Utilize the Department of Labor's resource to determine how to file for unemployment in your state. The usual one-week waiting period has been eliminated, allowing for an extra week of pay if you apply right after being laid off, furloughed, or unable to work for pandemic-related reasons. Every extra dollar is essential right now.

Additionally, you should apply without delay: the $600 weekly federal supplement begins on the day you lose your job (applied retroactively to April 5) and lasts until July 31. It isn't based on a sliding scale, so even if you qualify for just $50 a week in state benefits, you'll still receive the full $600. (Keep in mind, this amount is taxable.) You may also qualify for the subsidy even if your state benefits have run out.

3. Reapply if necessary

You might need to reapply for unemployment benefits to receive the full support you deserve. This is especially true if your current benefits were exhausted before the new assistance measures and subsidized payments became available.

Reapplications could also be necessary if your state's unemployment office struggled with the transition to the new rules. For example, in Florida, contractors and self-employed individuals who were initially denied benefits or applied before April 4 were recently informed that they need to resubmit their applications.