A severance package may have several types of benefits.
Some severance packages contain just money payments.
That's up to your employer. If your severance is paid over time, you might not be able to collect unemployment insurance benefits during that time, because the government agency that handles unemployment benefits might view your payments as wages. You should check with an attorney who specializes in employment law to see if that is the rule in your state. So some employers offer severance packages that include the cost of those payments. That can be a significant benefit to the employee, as the cost of continuing benefits can be hundreds of dollars per month.