April 16th 2022, Major Impact to Social Security, SSDI, SSI, Low Income

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April 16th 2022, Major Impact to Social Security, SSDI, SSI, Low Income
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April 16, the major changes coming and the impact to your monthly benefits of Social Security, retirement, disability, SSDI survivors, SSI, VA, RRB, low income, and no income. I want to talk about this because this is very important to understand.

I’ll continue to keep you updated with everything going on and anything that may be coming down in the form of stimulus checks, monthly checks, Voucher programs, packages, reform raises to benefits, anything else we can possibly get our hands on right now. Of course, I’ll be right here in these videos breaking it all down because I want to help you out in any way that I can.

All right, So first off, I do want to talk about this in a little bit more detail right here, because there are some key dates coming down here over the next couple of days and the next couple of weeks here that I do know will impact a lot of you right here in this community, because I do know that there are a lot of fixed income beneficiaries here, a lot of low income people, those individuals drawing on Social Security, SSDI, SSI, Snap benefits, Medicaid, things like this. We’ve got to watch all this closely because some of this is going to be impacted in a big, big way here in a relatively short amount of time. So let’s walk through this. And also, I do want to answer a question right off the top here before we get into it any further.

And that is I’ve seen this question down in the comments section a number of different times here over the last week and a half or so, and I want to lay this out for you right here, right now. So the question is coming in asking the end of the day, April 15, the public health emergency declaration will be ending, therefore, April 16. At this time, it will be done. It is over with as of April 16. That’s why I’m saying this date is a key date that we need to watch very closely.

Now, there may be an extension to this, but as of right now, I haven’t heard anything. There has been no announcement and there has been no talk of an extension at this time. However, they could come out here anytime between now and the next two weeks or so, and they could announce some type of update to this and probably an extension to the public health emergency declaration. However, as of right now, we need to anticipate and assume it’s going to be allowed to expire because we haven’t heard any type of announcement or anything coming out discussing an extension to this. Therefore, we got to assume it’s going to be expiring.

But if it extended, that’d be a great thing. All right, so here’s the deal. The question that I’ve been seeing down below are, is this going to impact my benefit? I receive SSDI. I receive SSI.

I receive Social Security retirement. I’m low-income. Will this impact me in any way, shape, or form? Well, maybe. Let’s lay this out here really quickly.

Some of you. The answer is yes, absolutely. In fact, there’s about 13 million of you that are going to be impacted directly as a result of the cancelation or the expiration of the public health emergency. So, yeah, about 13 million people will be impacted directly. However, a lot of other people will also be impacted indirectly, which I want to lay out here and explain a little bit more in detail.

All right. So, number one, I want to talk about really fast here, those people that are going to be impacted indirectly. Here’s the deal. As the public health emergency is in place, this allows for a lot of extra privileges on the state level, on the federal level, it allows for a lot of extra things to be done, a lot of necessarily rules that may be in place, kind of allows a lot of exceptions to the rule, if you kind of know what I mean. Right.

So as the public health emergency is in place, it’s probably a pretty good thing, considering if we want extra benefits, raises to benefits, stimulus checks, extra Snap benefits, extra Medicaid coverage, all kinds of things like this, along with a variety of other things. As long as the public health emergency declaration is in place, this allows for extra privileges, as in, hey, this is still in place. The COVID situation is still a real thing. As long as it’s in place, it kind of gives them justification for sending out extra benefits, for allowing for additional stimulus checks, for raising benefits, for all kinds of different things to make the argument for it and to justify why they want to do these things when that thing is in place, it kind of really justifies everything that they want to do. However, in the event that it allows to expire or it is canceled, well, then they might look at it and say, well, there’s no public health emergency declaration anymore.

Not really sure why we need all this stuff, you know what I mean? So with it, being in place is probably a pretty good thing for a lot of people. However, for those people that it will impact directly. Let me tell you what this all means going forward. But actually, let me answer this really fast.

I apologize. I meant to say this a second ago, but obviously, I got carried away. Here’s the deal. The questions coming in are asking, is this going to impact my benefit? I apologize.

I should have said this a second ago. No, it’s not going to impact your benefit in any way, shape or form. Your monthly benefit that you receive, as in the allocation of money that you get into your bank account. Let’s just say it’s $841 from SSI or $920 from SSDI or $917 from retirement benefits or $627 from SSDI. I’m just making up numbers.

I mean, seriously, everybody gets a different benefit for the most part. No, it will not have any impact to the monthly benefit that you get, as in the money in your bank account, the money that is deposited into your bank account, your Direct Express card, anything like that. No, it will not impact that in any way at all. You will be totally fine if this expires. Okay.

So I know that a lot of people are asking, is this going to impact my benefit? Is it going to be lowered? Is it going to be garnished? Is it going to stop? No, you’re fine.

Okay. Please don’t worry about that. No big deal. When it comes to your monthly benefit, you’re good to go. And you will continue to get that benefit with no interruption.

Okay. So I hope that answers your question there. All right, let me go back to you here and talk about how this will actually impact. Now, some of you fixed income beneficiaries, about 13 million of you. So we’re not talking like a small number of people here.

We’re talking about a huge portion of people here. 13 million. Considering there’s about across all of these benefits, about 70 to 80 million beneficiaries. Again, I’m not sure what the exact number is taking into consideration. All of the benefits across Social Security, SSI, VA, RRB, all of these beneficiaries, it’s probably around the 80 million people, Mark.

So it’s a lot of people. Right. But 13 million is a large percentage of that. Here’s what it comes down to. There would be some impact to Medicaid.

Not Medicare, but Medicaid. Medicaid is generally the coverage that you get if you are low income or if you are somebody receiving SSI Right. So if you’re receiving SSI, you’re pretty much automatically given Medicaid coverage Right.

Also, Snap benefits, if you’re one of the 43 million beneficiaries of Snap, food stamps, food assistance, nutrition assistance, supplemental Nutrition Assistance program, then, yeah, you’re probably going to be impacted as well. Right. So let’s talk through this a little bit more closely here and talk about what this actually means going forward and why we need to watch this club very closely and see is there going to be an extension or are they going to allow it to expire? If they allow it to expire, then there’s going to be some impact here in a pretty big way. All right.

So as of right now, there are 78.9 million beneficiaries receiving Medicaid benefits. It’s a lot of people, right? Well, not 1312 .9 million of those beneficiaries are looking at their Medicaid coverage expiring, just stopping as of April 16 as a result of the expiration or cancelation of the public health emergency declaration. So that’s what I’m saying. If this thing gets extended, it’d be a good thing in a big way for a lot of people.

But if it is allowed to expire, then it’s not necessarily going to be a great thing. There’s about 12.9 let’s just call it about 13 million people that beyond the chopping block, essentially to lose Medicaid coverage as a result of this public health emergency declaration allowing to expire. So that’s Medicaid. However, let’s quickly talk about Snap now. So a few days ago, actually, it was probably about a week or so ago, I was out in a separate topic.

So you probably know about this, if you’re somebody receiving Snap benefits, there was this extra allotment going out here over the last two years or so. They were allowing for this allotment because once again, the public health emergency declaration was in place, therefore allowing States these extra privileges of sending out an extra $95 every single month. Well, as a result of this, some States are already rolling that back early.

Now, I did see a list. I believe it was just yesterday. I saw another list. There’s about 14 States that are still sending out the extra $95 allotment great stuff, right? I can come back in a separate topic if you’d like me to, and I can have that list of 14 different States read out to you that are still sending out an extra $95 allotment.

A lot of you reaching out saying, yeah, my state just canceled the allotment right. Back down to $19 a month or whatever it happens to be. But they were allowing for this extra $95 allotment every single month. Well, as a result of that being rolled back, as in the public health emergency declaration, either on the state level and or this one on the federal level, when that happens, the States won’t have that privilege anymore. The States will not have the ability to send out that extra allotment going forward, because that was one of the major provisions of this being put in place was that, hey, the States have this extra privilege of sending this out. Well, that wouldn’t be a thing anymore. So as you can see here, there’s a lot of people that are receiving staff benefits.

A lot of people are relying on the extra $95 a month. And I don’t know where they’re going to pull the rug out from under us and say, just kidding, it’s gone now, right? Well, that’s not necessarily a very fair situation, considering when this whole thing started two years ago, food prices were significantly less than what they are now. So if you ever happen to have a receipt laying around from groceries, maybe two years ago, it would be very interesting to take a look at it. Considering what the prices are today.

It’d be very interesting to compare a receipt from two years ago on groceries to what it would be looking like today. I bet the prices would be very different on the exact same items. And portion sizes may even be smaller as well. I did see some of that in a recent report as well. They’re calling it shrinkflation.

Right. So rather than lowering the prices on items, they’re just lowering the portion sizes. Right. So maybe it’s like, for example, maybe it’s an eight ounce box of pasta or something. Again, I’m just giving you an example.

Maybe they’re given like an eight ounce box. Maybe they lower it to like 6oz and charge the exact same price for it. So they call that shrinkflation. So, yeah, another thing we got to contend with out there right now. Right?

So anyway, that’s what’s going on here as of April 16. Technically, it’s the end of the day, April 15. But anytime between now and then, they could still have this extension. But as of basically the roll all over of the new day on April 16, it’ll all be better off unless they actually do extend this thing out with another extension. So anyway, that’s why I want to lay this out for you, because there is some impact to about 13 million people and it’s not going to be a good situation.

So anyway, as I do get more information on this, of course, I’ll break it all down for you. But to answer that main question that I’ve received down in the comments section so many times, is this going to impact your monthly benefit when it comes to retirement benefits or SSDI or survivors or SSI, VA, RRB, any of these monthly benefits? The simple answer is no. When it comes to your monthly benefit that arrives in your bank account onto your Direct Express card, the answer is no. Please don’t worry about that.

There will be no impact to your monthly benefit. You’ll still get your benefit on schedule, as you always do. There shouldn’t be any delay there. There shouldn’t be any reduction to your benefit. You’re good to go, right?

But some of these other benefits, snap, Medicaid, things like this, that’s what you got to watch out for because some of these benefits may be either reduced and or completely removed. So anyway, as I do get more information here on any of this information going forward over the next two weeks or so, right up to that April 16 deadline, of course, I’ll continue to watch everything closely. I’ll come back right here, right for you in these videos. I’ll break it all down and to help you out in any way that I possibly can.

Share this topic with your friends, family, social media.

I hope this one helps you and I’ll catch you again later in the next topic.

 

 

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