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My statement states that there is a 2.0% increase this year…

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My statement states that...

My statement states that there is a 2.0% increase this year because of a rise in the cost of living. My amount is exactly what it was last year. Why is that?

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Submitted: 7 months ago.Category: Social Security
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Answered in 2 minutes by:
12/18/2017
Social Security Expert: Camille-Mod,
 replied 7 months ago
Camille-Mod
Category: Social Security
Satisfied Customers: 12
Experience: Cat Mod at Just Answer
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Hi,
My name is ***** ***** I am the moderator for this topic. Please read the following message very carefully:
It looks like your question was meant for a different company (Social Security Office?). We match people with questions to experts with answers in areas like Health, Pets, Computers, Taxes, Cars, Financial, Legal, Home Improvement and more.
While you may have intended this for another company, oftentimes, the professionals can still help with a question like yours. Please let me know if you want to continue, or if you would prefer that I cancel your question.
Best,
Camille - Moderator
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Customer reply replied 7 months ago
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer reply replied 7 months ago
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 7 months ago
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,667
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
Verified

Hi My name's Lane ...

I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice to clients on three continents since 1986.

If you’ll please bear with me for a minute I’ll type up my initial response, and then we can go from there if you have further questions on this.

...

And again, please let me know if you understand that you are ont talking to Social Security here

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Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 7 months ago

This is a classic case of the Government's "right hand" not telling you what the "left hand" is doing, (those two branches being Social Security and Health & Human Services, Medicare)

...

Becasue Medical costs are rising at about 30% per year, and the cost of the market basked of goods measured by CPI rose about 2%. Your Social Security benefit rose by 2%, but you medicare premium rose MUCH more.

...

However, a provision in the law called the hold harmless provision says that your NET benefit (after Medicare Part B deductions) can never go down.

...

So what's going on here is that the hold harmless kept the Medicare part B premium from actually making your net benefit go down

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Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 7 months ago

Please let me know if you have ANY questions at all, before rating me.

If this has helped, and you DON’T have other questions … I'd appreciate a positive rating, using the stars on your screen, and then clicking “submit" (you may have to scroll up to see them OR look to one side or the other if you’re on a device, such as a phone or tablet – That’s the only way I’ll be credited for the work.

I hope you’ll rate me based on my accuracy and thoroughness (as opposed to any good news/bad news content). Thank you!

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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,667
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Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986

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