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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 10105
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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Received last December a letter saying MY SS AMOUNT of $38

Customer Question

received last December a letter saying MY SS AMOUNT of $38 us would be increased by $4 starting in January.Since then, it went down to $37 What is happening,I feel cheated of what was mine can you help me ? Thanks in advance
Submitted: 8 months ago.
Category: Social Security
Expert:  Lane replied 8 months ago.

Hi Pauline,

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I'm so sorry to have to be the messenger here.

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Someone has given you inaccurate information. See this from Social Secuity: https://www.ssa.gov/news/cola/

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From there:

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With consumer prices down over the past year, monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 65 million Americans will not automatically increase in 2016.

Read more about the law that does not provide for a Social Security Cost-of-Living adjustment for 2016.

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And the reason your net benefit went down was likely because for some individuals the premium for medicare part B went up in 2016,

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See this: https://www.narfe.org/pdf/toolkit_2016_Medicare_Premiums_Hold_Harmless.pdf

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Please let me know if you have ANY questions at all.

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I hope you’ll rate me (using those stars, rating request, or faces on your screen) based on thoroughness and accuracy, rather than any good news / bad news content. That’s the only way I’ll be credited for the work here. But, again, please let me know if you still have questions.