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Stephanie O Joy, Esq
Stephanie O Joy, Esq, Soc. Sec. Attorney
Category: Social Security
Satisfied Customers: 13521
Experience:  19+ years legal exp. - 10+ years owning/operating her own SSD Law practice.
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I am 65 and have been collecting social security since I was

Customer Question

I am 65 and have been collecting social security since I was 62. I am expecting in April, a BP settlement check of about $130,000 for business income losses in 2010 .
What will social security do now to my monthly social security check and my monthly medicare premium deductions?
Do I have choices?
Submitted: 1 year ago.
Category: Social Security
Expert:  Stephanie O Joy, Esq replied 1 year ago.
Hi, my name is***** and I am here to assist you. I am a social security attorney in my private practice – that is ALL I do. Please let me know that my post here is coming through for you by typing a quick reply. If this is NOT income from work activity, it should NOT effect your SS retirement check. However, in a year or two you will possibly see your Medicare premium go up for 1 year, due to IRMAA, because your premium is based on your income from two years prior. So if you receive suitably higher income in 2016, expect your medicare to go up for the year of 2018, most likely. But it goes year by year, so 2019 will not be be based on 2016 income.
Expert:  Stephanie O Joy, Esq replied 1 year ago.
I hope this helps! My goal is to provide you with excellent and accurate service – if you feel you have gottenanything less, please reply back, I amhappy to address follow-up questions. Kindly rate me "excellent"when you are done. I look forward to assisting you in the future, should you have legal questions. Be sure to start future posts with "To ***** Esq., ONLY" if you want me to specifically answer it. Sincerely, ***** ***** Joy, Esq.Your online SS legal resource!