Inside Social Security, how a Wall Street CEO is revamping almost everything

Amid ongoing concerns regarding the efficiency of Social Security services, the agency has faced significant leadership changes. From December 2023 until Frank Bisignano’s Senate confirmation on May 6, four individuals cycled through the position of Commissioner, largely due to mounting criticisms over inadequate service to beneficiaries.

Bisignano, known for his background in banking and as a protégé of Jamie Dimon, was appointed with a mandate to bring about necessary reforms at the Social Security Administration (SSA). Since his appointment, he has implemented several initiatives that have garnered attention and praise, even from some of the agency’s critics.

One of his initial priorities involved enhancing the accessibility of the My SSA.gov website, which had previously been down for 29 hours a week. Under Bisignano’s leadership, the site now operates around the clock, significantly benefiting users, especially those located in different time zones.

Additionally, Bisignano has focused on reducing lengthy phone wait times that plagued the SSA. Improvements to the automated phone system have allowed the agency to better manage high call volumes, resulting in reduced average hold times. Data reveals that these wait times decreased from an average of 20 minutes in June of the previous year to just 7 minutes in September 2023. Notably, the SSA handled considerably more calls—65 million—during this period.

During a recent government shutdown, Bisignano ensured that field offices remained operational, facilitating the processing of applications and appeals with a staffing model that drew substantial volunteer participation. Moreover, he streamlined workflows, reducing the time for processing disability claims from 240 to 209 days and significantly lowering the backlog.

An audit by the Office of the Inspector General confirmed the accuracy of reported improvements in service metrics. As Bisignano continues to address systemic inefficiencies, the SSA appears to be on a path toward enhanced service delivery.

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