I’ve received a number of calls recently from client’s wanting to know what changes, if any, will take place with Social Security and Medicare now that President Obama has taken office. President Obama has identified Social Security and Medicare as one area that he plans to target for reform.
The short answer is the nothing is going to change in the immediate future.
In the long run, we may see changes in the way that disability claims are processed (an effort to speed up the process), changes in the way disability is determined (making it harder for some to get on SSD orSSI) and changes in the process of reviewing claims after approval to determine if disability has ceased.
But, the biggest change will be geared toward making sure that the Social Security and Medicare Trusts have enough money in them to survive. No one know yet how that will be accomplished – though higher contributions, increased participants or lower benefits— but it is certain that changes will occur.
Check back here from time to time as I will continue to provide updates on the changes as they occur.