3 Effects of the Coronavirus Pandemic on Your Social Security

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The novel coronavirus is changing the world and the United States is no exception. From closing schools and businesses to entire states declaring a state of emergency, the aggressive spread of this novel coronavirus is making all of us rethink our plans and reshape our lives.

COVID-19 initially started in Wuhan, within China’s Hubei province, and made its way across China’s borders to the rest of the world. South Korea and Japan were among the first countries to be hit by the outbreak but Italy rapidly became the most affected. South Korea has been performing drive-thru coronavirus testing sites, and the United States has restricted inbound travel from Europe for a period of 30 days.

It might seem like a scenario from a Hollywood movie but it’s actually our reality now. Coronavirus is going to affect almost every aspect of our lives to some extent and that includes the most popular social program in the history of the United States: Social Security.

If you’re among the 64 million people benefiting from Social Security every month, you can relax for the moment. That’s because you will still receive Social Security benefits on an uninterrupted basis. More than that, Social Security is not running out of cash, despite what many people think.

Nevertheless, there are going to be some changes with respect to the Social Security program, as a consequence of all the mitigation measures carried out by authorities in their fight against the spread of the novel coronavirus. Here’s what you should expect:

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