I thought we were going to get a slight social security increase

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We just looked at our bank statement for Feb and both my wife and my amount was the exact same as last year.

Any one know why they are hood winking us ????

Maybe throw a crumb to us and then take it back in taxes ?

I would be curious to know if anyone actually got an increase ?

Jack L

 
We got about 0.3% raise and the Medicare cost raised by the same mount.  The net value deposited in your account was the same. At least that was what I understood to be the case.
 
I haven't started to draw yet so cannot help. Thought I would let the pot grow some. Wanted to make sure you old guys got your money first.  8)
 
Well don't blame me.  Looking at my pay stubs I am paying PLENTY into SS and Taxes....LOL
 
judway said:
We got about 0.3% raise and the Medicare cost raised by the same mount.  The net value deposited in your account was the same. At least that was what I understood to be the case.
Click to expand...

I'm with Judway -- we got a slight raise, but medicare increased exactly the same amount, thus leaving the deposit (not the total on paper) exactly the same amount as last year.
 
The medicare costs actually rose more than the SS increase.  For the people who have medicare come out of SS the raise in medicare is limited to the amount of the SS increase.  These are the lucky people and my husband is one of them.  When I get ready to take medicare my premium will be much higher than his due to his being locked in to SS increases.
 
I would have to look at my statements but this is a true story;

My mother, who was head of accounting for a multi-million dollar research and develement company. once turned down a raise.. WHY.

Well it would have put her in a higher tax bracket and resulted in LESS money in the pay check.

You may have done like that. Also though they give us a few dollars increase.. They also increased the Medicare preminums for those of us who have no choice.
 
Yeap - the SS increase got wiped out by the Medicare B increase. The "B" premium increase actually exceeds what just about everybody got in their 0.3% SS raise, but by law the premium increase cannot cause a net decrease in your SS income, so they balance out to "zero".
 
Thanks Gary,

I recall reading back in November that we were going to get a slight increase, but the article didn't say anything about Medicare B wiping it out.

Thankfully we have our MRD from our IRA each year to add a few bucks to the bank account

Jack L
 
That happened to me once, no fantastic salary but the anual pay raise resulted in a smaller take home check.
 
Gary RVer Emeritus said:
Yeap - the SS increase got wiped out by the Medicare B increase. The "B" premium increase actually exceeds what just about everybody got in their 0.3% SS raise, but by law the premium increase cannot cause a net decrease in your SS income, so they balance out to "zero".
Click to expand...

That's what happened to me.  Zero change.  Looking forward to Bigly increases in 2018.
 
Yes I did and it only cost me $10 more  a month because they raised the cost of my medicare.
 
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