Big, Beautiful Question Marks
On July 4, a new federal bill was signed into law that introduces several reforms aimed at tightening oversight of government benefit programs, including Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), Medicaid, SNAP, and more.
Many headlines have focused on the fear that large numbers of Americans could lose access to benefits. But while the changes are real and significant, the full picture is more nuanced. For most people, this isn’t a reason to panic. It’s a reason to stay informed, pay close attention to details, and thoughtfully prepare for the months and years ahead.
Naturally, uncertainty about health care, food assistance, or financial stability can stir anxiety. It’s easy to leap to worst-case scenarios. But let’s take a breath, walk through what’s actually changing, and explore what it all means.
Understanding the Changes to Social Security Programs
One of the law’s primary goals is to reduce improper payments—especially those made to people who are no longer eligible or, in some tragic cases, no longer living. These types of overpayments have cost taxpayers hundreds of millions of dollars, largely due to outdated or incomplete records.
To tackle this, the law increases eligibility reviews across several programs. This includes Supplemental Security Income (which supports low-income individuals who are disabled or over 65), SSDI (for those unable to work due to long-term disability), and other income-based benefit programs. The legislation also enables stronger data sharing between the Social Security Administration, the IRS, and other agencies, which will help identify life changes—like shifts in income or household status—more quickly and accurately.
Importantly, this law does not reduce or cut traditional, retirement-based Social Security benefits. Instead, a temporary additional tax deduction will protect more seniors receiving benefits with reduced tax liability.
What’s Changed for Medicaid and SNAP
The Medicaid program, which is jointly funded by the federal and state governments but managed at the state level, will see some noticeable shifts. These will vary somewhat by state, but on a federal level rule, adults between the ages of 19 and 64 who are considered able-bodied will now need to complete 80 hours per month of work, volunteering, or similar activities to maintain eligibility. Those who are 65 or older, or who have disabilities, are exempt—but it remains essential to keep all medical and income documentation up to date. Eligibility checks will also now occur every six months instead of just once a year.
For SNAP—the Supplemental Nutrition Assistance Program—similar work requirements are being extended to able-bodied adults aged 18 to 64. Federal funding for SNAP will gradually decrease, potentially placing more of the financial burden on states. As a result, benefit amounts may shift as states adapt their own programs to these new realities.
Changes with ACA Subsidies and New Verification Rules
The Affordable Care Act (ACA) established health insurance marketplaces to help those without employer-based coverage access care. During the COVID-19 pandemic, additional federal subsidies were introduced to make plans even more affordable—but those temporary benefits are not being renewed in this legislation and are still set to end in 2025.
Starting in 2027, new verification rules will require applicants to provide detailed documentation of income, residency, and eligibility when enrolling into ACA programs. This will increase oversight and likely introduce more paperwork during the enrollment process.
Because these changes are forecasted, we do not have a clear picture of the entire impact, and more legislation could change this information.
A New Tool: “Trump Accounts” for Child Savings
The law also introduces a new type of tax-deferred account aimed at helping families save and invest for their children—unofficially referred to as “Trump Accounts.” These accounts allow parents and relatives to contribute up to $5,000 annually per child. While the money remains invested, it grows tax-deferred. When withdrawn, it is taxed either as long-term capital gains (if used for approved purposes) or as regular income (for unapproved uses).
Withdrawals are age-based. At age 18, a child can use up to 50% of the funds for education, training, starting a business, or buying a first home. At age 25, 100% of the account can be used for these same purposes. By age 30, any remaining funds become fully accessible for any use. These accounts offer families a new long-term financial planning option and expands access to the investment market. Specific details of implementation are still being finalized at custodians as these new accounts roll out.
So, What Should You Do Now?
If you or someone you care about relies on government benefits, this is a good time to take a few proactive steps. First, make sure all your records are current—this includes medical documents, income statements, and proof of residency. If your circumstances have changed—whether in employment, health, or housing—report those updates promptly.
It’s also wise to stay in touch with your state agency, particularly for Medicaid, as implementation may vary depending on where you live. And don’t be afraid to ask questions. This law is still unfolding, and professionals like your CPA or benefits advisor can help you navigate what the changes mean for your specific situation.
Faith Perspective: A Constant in the Chaos
Policies change. Requirements tighten. Systems evolve. It can feel overwhelming, especially when the changes touch something as personal as your health care, income, or family well-being.
But in the midst of all this movement, we’re not left alone—or without something steady to hold on to. Hebrews 13:8 says “Jesus Christ is the same yesterday and today and forever.” This gives hope that even in the midst of change, God never changes.
That doesn’t mean we ignore the changes or pretend they’re not happening. It means we face uncertainty with courage and clarity, knowing we’re anchored in a truth that doesn’t shift.
“Do not be anxious about anything, but in every situation, by prayer and petition, with thanksgiving, present your requests to God.” – Philippians 4:6
We may not have all the answers, and that’s okay. Sometimes, the big, beautiful question marks in life are simply God’s invitation to trust more deeply, listen more carefully, and keep moving forward—one faithful step at a time.
Bible Verses to Reflect On
“Jesus Christ is the same yesterday and today and forever.” – Hebrews 13:8
“Do not be anxious about anything, but in every situation, by prayer and petition, with thanksgiving, present your requests to God.” – Philippians 4:6
“Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to Him, and He will make your paths straight.” – Proverbs 3:5–6
P.S.
A special thank you to the readers who submitted thoughtful questions around this topic- your curiosity and engagement help shape these conversations in meaningful ways. If you have questions you’d like to see answered in a future post, I’d love to hear from you. Let’s keep learning and navigating these challenges together to become Financially Unbroken.