Alert – Major change to Social Security checks coming within weeks

Social Security checks will soon no longer be delivered by mail and recipients must act fast to register for electronic payments. 

The change comes as part of an executive order issued by President Donald Trump that will make all federal payments such as Social Security and tax refunds strictly electronic. 

Beneficiaries who still receive paper checks have until September 30 to sign up for direct deposits or another electronic payment option. 

The White House said the move will prevent fraud and reduce government costs. 

Paper checks are more than 16 times more likely to be reported stolen or lost compared to electronic transfers, according to government data. 

Physical checks are also more likely to be returned deliverable or altered, the figures suggest.  

Discontinuing paper checks could result in annual savings of $750 million, according to First Citizens Wealth.  

The change will affect those who receive retirement benefits, Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI).

Social Security recipients must act now to set up electronic payments 

Recipients can provide a bank account or credit union for direct deposits or an approved pre-paid debit card.  

Registration can be completed at the government’s Go Direct website that helps Americans with their electronic payments.  

The US Treasury is also willing to make a handful of exceptions for those with no access to banking or electronic payments or those experiencing extreme hardship.

All exceptions must be approved by the US Treasury on a case-by-case basis. 

Government contractors, including businesses and individuals paid by the federal government, will also need to register for electronic payments. 

Companies or individuals can enroll their business for direct payments on US Treasury sites sam.gov or asap.gov.  

Businesses that are already enrolled are urged to ensure their account information is accurate to avoid any delays or complications.  

The rising cost of health care and new legislation affecting benefits has moved up the timeline that bosses expect Social Security and Medicare programs to run short of funds. 

The last federal checks will be sent out on September 30 

Social Security relies on its trust funds to provide monthly benefit checks to around 70 million 

Social Security and Medicare are now projected to run out of money by 2033

Both programs are now expected to run out of money in 2033, according to the latest annual report. 

The date is now three years earlier than last year’s estimate. 

Once the funds are exhausted, beneficiaries would still receive payments, but at reduced levels.

Medicare would be able to cover just 89 percent of hospital costs, while Social Security could pay only about 81 percent of promised benefits. 

Trustees say the latest findings show the urgency of needed changes to the programs, which have faced dire financial projections for decades.