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I received my notice that SS payments will increase by 2.0%

Customer Question
I received my notice...

I received my notice that SS payments will increase by 2.0% in 2018. My payment did not increase, but my husband's did. Can anyone tell me why?

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

Do you need my SS number?

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

No, just wondering why I did not receive any increase in my monthly payment

Submitted: 4 months ago.Category: Social Security
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Answered in 4 minutes by:
12/19/2017
Social Security Expert: emc011075, Tax Adviser replied 4 months ago
emc011075
emc011075, Tax Adviser
Category: Social Security
Satisfied Customers: 3,585
Experience: Tax adviser IRS licensed Enrolled Agent and tax instructor
Verified

Hi. My name is ***** ***** I will be happy to help you.

Last year Medicare premiums were increased to $134 but for most people COLA (benefits cost of living adjustment) did not increase enough to compensate for the Medicare increase. Because of hold harmless rule protection social security could not reduce your benefits because of higher Medicare premiums so in 2017 you paid reduced Medicare premium. The COLA adjustment for 2018 is 2%, much higher than last year but if your Medicare premium is less than $134, the adjustment will be offset by increased Medicare premium. Again, the Medicare premium increase cannot be more than your COLA increase because of the Hold Harmless rule protection.

Look at the last year Medicare premiums. Did the premium increase for 2018? Your husband's premium are most likely higher than your own and he paid larger Medicare premium last year. So his Medicare "catch up" did not entirely eliminated his 2% increase, but your Medicare increase did.

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Social Security Expert: emc011075, Tax Adviser replied 4 months ago

I see you read my respond. Do you have any questions? Is there anything else I can help you with today?

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