COVID-19 Impact: Social Insurance Responses

This report assesses the performance of pre-existing social insurance and related programs, temporary changes in those programs made in response to the pandemic, and some new federal and state policies.

The COVID-19 pandemic ultimately had negligible effects on the long-term projected financial condition of the overall program.

Contrary to expectations, the COVID-19 pandemic slightly extended the projected lifespan of the Medicare Hospital Insurance (HI) Trust Fund. Unfortunately, the reasons for this deferral of the trust fund’s depletion date were largely driven by negative health effects on beneficiaries

Families faced unprecedented challenges during the COVID-19 pandemic, including struggling to maintain financial security and meet the basic needs of their children and other dependents. Social safety net programs responded in a variety of ways to the instability caused by the pandemic – some of which proved worth considering for continuing long term, and some of which had unintended consequences.