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My social security payment per month was about $2011. &

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My social security payment per...
My social security payment per month was about $2011. For January & February of 2016 it dropped to about $1700. I know there is no COLA fore this year but I didn't expect it to drop so far.
Submitted: 2 years ago.Category: Social Security
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Answered in 7 minutes by:
2/17/2016
Social Security Expert: Jonathan Tierney, Certified Public Accountant replied 2 years ago
Jonathan Tierney
Jonathan Tierney, Certified Public Accountant
Category: Social Security
Satisfied Customers: 323
Experience: Tax Accountant at Praxair, Inc.
Verified

Hi, my name is ***** ***** I can help. While there was no COLA adjustment for Social Security benefits, Medicare premiums still increased. In addition, Medicare premiums are adjusted if you had a high income in the previous year, which may have caused your Medicare premiums to dramatically increase. However, there is no way to know for sure what happened without getting the information directly from the Social Security Administration. The easiest way to get your Social Security account information is by opening an online account by visiting: http://https://goo.gl/OFxGxQ. Click on the option to "Sign In or Create and Account" and complete the online forms.

Please let me know how this works for you and if you have any problems. Also let me know if I can clarify anything or answer any additional questions.

Thanks, Jonathan

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Jonathan Tierney
Jonathan Tierney
Jonathan Tierney, Certified Public Accountant
Category: Social Security
Satisfied Customers: 323
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Experience: Tax Accountant at Praxair, Inc.

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