Trump’s Megabill Could Alter Social Security, VA Benefits and Health Insurance for Over One Million Retirees This Fall

President Donald Trump recently signed a comprehensive legislative package, referred to as the "megabill," which includes provisions that could affect retirees and soon-to-be retirees across the United States. Key impacts involve changes to how Social Security and Veterans Affairs (VA) benefits are distributed, with modifications expected to take effect this fall. The bill has already led to adjustments in government benefit payments earlier this year, including increased payments for some recipients and recovery of overpayments for others. Additionally, concerns have been raised about the potential for over one million New Yorkers to lose health insurance coverage as a result of tax provisions within the bill. These developments signal ongoing shifts in federal benefit administration and taxation under the current administration.