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I received your letter showing a 2 percent raise as of Jan…

Customer Question
I received your letter...

I received your letter showing a 2 percent raise as of Jan 2018, it showed the amount I will receive after deductions as $1061.00. this is the amount I am currently receiving where is the 2 percent raise??????

Accountant's Assistant: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.

What do you need my name, social security number, age, date of birth or what?

Accountant's Assistant: Is there anything else important you think the Retirement Accountant should know?

My name Marvin *******, SSN ********, age 70, DOB *******

Submitted: 8 months ago.Category: Social Security
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Answered in 2 hours by:
12/5/2017
Social Security Expert: patriciac-cssm,
 replied 8 months ago
patriciac-cssm
Category: Social Security
Satisfied Customers: 0
Verified
We received your customer service inquiry, however, we are unable to respond to you because we do not have your email address. Please contact customer support at***@******.*** and provide us with your email address and a link to this question page so that we can help you. (http://www.justanswer.com/social-security/aumy8-received-letter-showing-percent-raise-jan.html). Thank you, ***** ***** Customer Support Team.
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Customer reply replied 8 months ago
If you got my question you should have gotten my email address but here it is***@******.*** and also how did you answer me (I got the reply via email)?????
Social Security Expert: Carter McBride, CPA replied 8 months ago
Carter McBride
Category: Social Security
Satisfied Customers: 1,309
Experience: Adjunct Professor
Verified

Hey! I'm Carter. I'm a CPA and can help you with this.

This has been a really common thing this year. It has affected about 70% of Americans on Social Security. So, yes, Social Security went up 2% due to the Cost of Living Adjustment. However, due to a change in law, increases in Medicare can now offset Social Security amounts. So while your Social Security went up 2%, Medicare costs also increased, which led to less than a 2% increase in your net amount you receive.

Sorry its not the best news. If you need anything else, let me know. If not, please leave a rating. Thanks!

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Customer reply replied 8 months ago
It meant a zero percent in crease for me is that right?
Social Security Expert: Carter McBride, CPA replied 8 months ago

Yea, the cost of living raise basically offset your your increase in Medicare to lead to a 0% increase.

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Social Security Expert: Carter McBride, CPA replied 8 months ago

Hey! I just wanted to follow up and see if you had any other questions. If not, please leave a review. Thanks!

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