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I need to know why my Benefit amount went down instead of a…

Customer Question
Hi ! I need...

Hi ! I need to know why my Benefit amount went down instead of a increase? I was receiving $431.00 and now it's 419.80 Thanks Betty Jensen

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. Please tell me more, so we can help you best.

My husband got a raise of 31.50 and mine went down 11.20 I know that doesn't sound like much . I'm 83 and my Husband will be 89 Jan 7th. So we were just wondering why.

Accountant's Assistant: Is there anything else the Retirement Accountant should be aware of?

Not that I know of

Submitted: 7 months ago.Category: Social Security
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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.
Customer reply replied 7 months ago
Thanks I'll call Social security on Tuesday ... Thanks Betty Jensen
Answered in 14 hours by:
12/30/2017
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: 7,473
Experience: Sr Tax Expert/Financial PlannerCPA/PFS (retired)Over forty years of advising individuals & small businesses
Verified

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

I see your note that you are planning on calling Social Security on Tuesday. Since calling their published "Help" number at 1-***-***-**** often involves a "hold time" of up to 1 hour and then calls are often dropped without talking to anyone, I thought I'd provide some additional information that you might find helpful.

If you do the math what you'll probably find is that although your "Gross" benefits increased by 2%, that was offset by increases in Medicare B (many went from $111. to $134. a month), and/or increases in Medicare Prescription Drug coverage if you have that premium withheld rather than sending the premium in yourself. Income tax withholding could also have changed

if you have income tax withheld from your benefits.

If you haven't received your annual Form SSA-4926-SM (1-2018) as yet, you should receive it shortly. That annual form explains the detail of your 2018 Social Security benefits.

You may also obtain this information if you go to http://ssa.gov and set up a "MySocialSecurity" account.

You can also call Social Security at 1-***-***-**** from 7AM to 7PM Monday - Friday (may involve a long holding period), or visit or call your local Social Security office. The following is a link to locate the address & phone number (if they publish a phone number - some do;some don't) of your nearest local Social Security office, using your Zipcode.

https://secure.ssa.gov/ICON/main.jsp

Let me know if you have any follow-up questions.

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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keeperumiami
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Category: Social Security
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