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 lev-tax Your Own Question
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 29798
Experience:  Taxes, Immigration, Labor Relations
870116
Type Your Social Security Question Here...
lev-tax is online now
A new question is answered every 9 seconds

We have been receiving Social Security 20 years now. As of

Customer Question

We have been receiving Social Security for about 20 years now. As of Jan 2016 our benefits have been reduced by about $100 and I am told there has not been any COLA.
Please explain.
regards......Russ Hill
Submitted: 1 year ago.
Category: Social Security
Expert:  lev-tax replied 1 year ago.

Hi Russ and welcome to our site!

Unfortunately because of low inflation (or at least how the government determined that for social security purposes) - there is NO COLA adjustment in 2016...

But Medicare premiums most likely increased.

See here part B costs

https://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-costs.html

and part D costs

https://www.medicare.gov/part-d/costs/premiums/drug-plan-premiums.html

Please verify what exactly you pay for these coverage.