How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jonathan Tierney Your Own Question
Jonathan Tierney
Jonathan Tierney, Certified Public Accountant
Category: Social Security
Satisfied Customers: 322
Experience:  Tax Accountant at Praxair, Inc.
51959094
Type Your Social Security Question Here...
Jonathan Tierney is online now
A new question is answered every 9 seconds

Why did my payment go DOWN this month -- II received no

Customer Question

why did my payment go DOWN this month -- II received no notice...
Submitted: 1 year ago.
Category: Social Security
Expert:  Jonathan Tierney replied 1 year ago.

Hi, my name is ***** ***** I can help. Unfortunately, Social Security benefit changes, called cost-of-living adjustments (COLA), did not happens this year because inflation was too low. However, Medicare costs continued to increase and therefore Medicare premiums were increased. All Social Security and Medicare beneficiaries are seeing their net benefit payments reduced because of these economic trends.

I hope this answers your question. Please let me know if I can clarify anything or answer any additional questions.

Thanks, Jonathan