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keeperumiami
keeperumiami, Senior Tax Expert & Financial Planner
Category: Social Security
Satisfied Customers: 7155
Experience:  Sr Tax Expert/Financial PlannerCPA/PFS (retired)Over forty years of advising individuals & small businesses
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On Social Security Form #SSA 4926-SM (1-2015), My Monthly Amount

Customer Question

On Social Security Form #SSA 4926-SM (1-2015), My Monthly Amount (before deductions) is $920.90 for the year 2015.
On Social Security Form #SSA 4926-SM (1-2016), My Monthly Amount (before deductions) is $921.80 for the year 2016.
Why did my Monthly Amount (before deductions) go up to $921.80, a difference of $.90?
My deduction for Medicare for 2015 was $104.90 and my Medicare deduction for 2016 is $105.80, a difference of $. 90 Why did this go up? My income or Medicare coverage remained the same from 2015 to 2016. Rose Tengstrand, Lynchburg, Virginia 24501
Submitted: 1 year ago.
Category: Social Security
Expert:  keeperumiami replied 1 year ago.
The reason that your monthly benefit went up 90 cents is because the Medicare Part A Premium went up 90 cents and Congress passed a law near the end of the 2015 year that provided that because we received no cost of living increase again this year that our net benefits after the Medicare Premium increase could not be reduced.So, that's the story; glad you're right on top of it. :]Steve G.Please remember to rate my response as that is the only way we receive credit for our work.
Expert:  keeperumiami replied 1 year ago.
Just Checking in....................Do you have any follow-up questions?If not, please remember to rate my response as that is the only way we receive credit for our work.Steve G.