Received a letter fron SSA saying I am having my monthly…

What did the letter from Social Security say?

It sounds like your Medicare premium has been increased perhaps due to some increase income last year? Perhaps you had a sale of stock or some other unusual capital gain or other type of income and as a result your Medicare premium has been increased. That's usually about $89. a month for the first tier of increased income.

There should be an explanation with the letter from Social Security; sometimes it is hard to decipher so if you need further assistance, just tell me what the letter says and I should be able to confirm the reason for the change.

Steve G.

In your initial question, you said that you were receiving $1,033. a month and you were going to begin to receive

$944. a month, which would be an $89. decrease.

I didn't know that you were not enrolled in Medicare.

So, you started to collect your Social Security benefits before you reached full retirement age, probably age 66, which means your benefits were reduced based upon the age you began collecting benefits at age 62 or sometime between then and when you began collecting benefits.

All this letter does is change the allocation between the portion of the total benefit you are receiving based upon your earnings record and your spouse's earning record. Since your earnings in 2015 must have exceeded one of the 35 years previously included in your earnings record.

There is no change in the total benefit.

However, if I now understand you correctly, you were you previously receiving $1,033. per month and you will now be receiving $944. per month according to the letter, and yes that difference would account for your Medicare Part B premium.

Have you arranged for a Medi-Gap policy to cover the additional 20% of the covered costs not covered by Medicare and Part D prescription drug coverage or alternatively are you covered by a Medicare Advantage Plan?

Steve G.

Right, I figured that but I just wanted you to know where I got the $89. from.

I would appreciate it if you would take a moment to rate my response as that is the only way I will receive credit for assisting you today.

Thanks very much,

Steve G.