Ask Social Security Questions and Get Answers ASAP
Usually there was an increase in the social security payment according with living expenses or else, and I had noted that this year is has como lower. The reason for that please and thanks. JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best. Customer: Hi Pearl my social security is ************* and the one for my wife is ************** I noticed that instead of increasing it has decresesd. JA: Is there anything else important you think the Retirement Accountant should know? Customer: No I just was puzzeld because of the decrese
The issue is that your Medicare Part B premium is automatically deducted from any Social Security benefit you receive. And, with the current COLA at the lowest in years, compared to a somewhat large Medicare Part B increase, your take-home income from Social Security is decreased. You should be able to obtain your SS benefit statement online. Have you setup an online account to retrieve this information?
I hope I answered your question with sufficient detail, accuracy, and completeness based on the facts communicated. I would be happy to expand my answer should you need clarification, before you rate my response. If no additional information is needed, please rate my response, based on thoroughness and accuracy, rather than any good or bad news/content. We (the experts) are only compensated when an answer is accepted and rated with at least 3 stars; but my goal is your complete satisfaction and a 5 star rating. I appreciate your prompt response. Sincerely, ***** ***** Breecher, CPA.