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I just received my statement of benefits for 2018 and I have…

Customer Question
I just received my...

I just received my statement of benefits for 2018 and I have not received a 2% cost of living raise, why not? I received $707 for 2017and it is $707 for 2018. Can you check this out for me?

Accountant's Assistant: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else the Retirement Accountant should be aware of?

I'm just questioning why I didn't receive the 2% cost of living.

Submitted: 7 months ago.Category: Social Security
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Answered in 39 minutes by:
12/21/2017
Social Security Expert: Rachel-Mod, Moderator replied 7 months ago
Rachel-Mod
Rachel-Mod, Moderator
Category: Social Security
Satisfied Customers: 6
Experience: Moderator
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Hello,
I'm Rachel, and I’m a moderator for this topic. It looks like your question may have been meant for a different company.
We, JustAnswer, match people with questions to professionals with answers in areas like Health, Pets, Computers, Taxes, Cars, Financial, Legal, Home Improvement and more.
Oftentimes, the Experts can help with a question like yours or I would be happy to try to assist you in finding the web address of the company you are looking for if you can confirm that for me.
Please let me know if you want to continue or cancel your question and I'm happy to further assist you.
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Rachel
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Customer reply replied 7 months ago
Will cancel this question that I asked about my cost of living raise, which I didn't get for 2018. Judy Ehmke
Social Security Expert: keeperumiami, Senior Tax Expert & Financial Planner replied 7 months ago
keeperumiami
keeperumiami, Senior Tax Expert & Financial Planner
Category: Social Security
Satisfied Customers: 7,469
Experience: Sr Tax Expert/Financial PlannerCPA/PFS (retired)Over forty years of advising individuals & small businesses
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Hello, my name is***** goal is to give you a complete & accurate answer. I am working on your request now & I will respond as soon as possible.

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Social Security Expert: keeperumiami, Senior Tax Expert & Financial Planner replied 7 months ago

The reason that you didn't receive the 2% increase, (which is the case with many of us) is that the 2% was offset by the increase in Medicare Part B premium, which actually was greater than the 2%, but under the regulations your increase in Medicare Part B premiums can't exceed the Social Security cost of living increase.

Sorry to be the bearer of bad news, but please don't shoot the messenger.

Please remember to rate my response as that is the only way the site will credit me for assisting you today.

Thanks very much,

Steve G.

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Customer reply replied 7 months ago
Thank you for time regarding my 2% cost of living raise, and I do understand why I didn't get the raise.
Social Security Expert: keeperumiami, Senior Tax Expert & Financial Planner replied 7 months ago

Hello, Just checking in......................

I would appreciate it if you would take a moment to rate my response, as that is the only way the

SITE will credit me for assisting you.

Thanks very much,

Steve G.

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