topic Re: 2018 Social Security raise in Community Chat

2018 Social Security raise

151949 — Thu, 11 Jan 2018 20:26:45 GMT

DH & I both got our first check of 2018 today and both of us got more than we expected. According to our SS letter we went from $104 to $134 on medicare and got a 2% COLA. So we each expected to only see about $2 in our check. However I got $11 and DH got $10+change.So now we're wondering why. No complaining - just wondering.

Re: 2018 Social Security raise

OKPrincess — Thu, 11 Jan 2018 21:02:01 GMT

DH and I received notification about a month ago we were getting 2% increase on our SS bank deposit in 2018. We are not eligible for Medicare yet.

Re: 2018 Social Security raise

chickenbutt — Thu, 11 Jan 2018 20:31:18 GMT

I'm probably not the one to answer, because I'm not quite old enough for Medicare yet, but maybe the Medicare increase occurs at a different time, rather than just the beginning of the new year (?).

That's all I can think of, so the change you expected will probably happen. It just didn't happen on the first month of the year. Maybe it has a fiscal year that differs.

Re: 2018 Social Security raise

151949 — Thu, 11 Jan 2018 20:41:19 GMT

Well, we went thru our SS letters and compared it to last year. They are taking out slightly less in taxes for some reason. We didn't change anything - it seems with the COLA raise it should be slightly more , not less. We don't actually pay anything in taxes anyway. Taking the money out each month just gives us a way to save money easily to pay other things like property taxes and insurances. The amount difference is very small so it doesn't matter but it does seem odd, doesn't it.

Re: 2018 Social Security raise

software — Thu, 11 Jan 2018 20:43:08 GMT

@151949 wrote:
Well, we went thru our SS letters and compared it to last year. They are taking out slightly less in taxes for some reason. We didn't change anything - it seems with the COLA raise it should be slightly more , not less. We don't actually pay anything in taxes anyway. Taking the money out each month just gives us a way to save money easily to pay other things like property taxes and insurances. The amount difference is very small so it doesn't matter but it does seem odd, doesn't it.

The tax withholding charts changed for 2018

Re: 2018 Social Security raise

ALRATIBA — Thu, 11 Jan 2018 20:48:55 GMT

I already filed mine away and I don't recall the numbers ... and I'm coming out ahead of last year.

Re: 2018 Social Security raise

Mz iMac — Thu, 11 Jan 2018 20:51:13 GMT

@151949

I thought SS did away w/checks years ago?

Re: 2018 Social Security raise

151949 — Thu, 11 Jan 2018 20:57:41 GMT

If I recall correctly - the way SS with hold for taxes is that you tell them a % amount and that is what they take. I wonder if the $30 raise in medicare is the difference. Maybe they subtract the medicare money before they calculate the with holding. Or if it has to do with the personal deduction going up. Curious!

Re: 2018 Social Security raise

bonnielu — Thu, 11 Jan 2018 22:08:56 GMT

Mine will be here in a week. Electronic. I will check it and hope for the best.

Re: 2018 Social Security raise

cherry — Thu, 11 Jan 2018 22:13:47 GMT

My husband got a $15 and I didn't get any ,my raise all went for medicare

Re: 2018 Social Security raise

SharkE — Thu, 11 Jan 2018 22:16:46 GMT

@Mz iMac wrote:
@151949

I thought SS did away w/checks years ago?

Are you kidding?

Re: 2018 Social Security raise

grandma2pkmh — Thu, 11 Jan 2018 22:19:50 GMT

I got a net of $3.00 Yippee!!!

Re: 2018 Social Security raise

Pearlee — Thu, 11 Jan 2018 22:23:54 GMT

@SharkE wrote:
@Mz iMac wrote:
@151949

I thought SS did away w/checks years ago?

Are you kidding?

I'm sure she isn't. She meant in favor of electronic deposits.

Re: 2018 Social Security raise

jeanlake — Thu, 11 Jan 2018 22:42:15 GMT

Glad for your additional love in the mail. Two years before I'm eligible for my SS checks, but I did receive my first COLA raise on my education pension. 2%. Glad to get it. It's a tank of gas for my small, Japanese SUV! Numbers are moving in the right direction.

Re: 2018 Social Security raise

CelticCrafter — Thu, 11 Jan 2018 23:00:54 GMT

For anyone sharing the actual dollar amount of the raise, it's real easy to figure out what your monthly payment is.

Are you comfortable with people being able to do that?

Re: 2018 Social Security raise

151949 — Thu, 11 Jan 2018 23:23:12 GMT

There are variables - like what is taken out for taxes.Otherwise - I honestly don't really care if someone knows how much I get from SS if they are so obsessed they figure it out - or think they do. I'd worry, however, about the sanity of anyone who would be so obsessed they'd do that.

Re: 2018 Social Security raise

tobes — Fri, 12 Jan 2018 00:15:19 GMT

It's most likely the Tax Reduction passed by the Trump administration.

Re: 2018 Social Security raise

151949 — Fri, 12 Jan 2018 00:18:18 GMT

@tobes The TEMPORARY tax reduction.

Re: 2018 Social Security raise

tobes — Fri, 12 Jan 2018 00:21:35 GMT

Yep. It expires in 2026 when Congres can re-enact it again.

Re: 2018 Social Security raise

Carmie — Fri, 12 Jan 2018 00:25:38 GMT

@CelticCrafter wrote:
For anyone sharing the actual dollar amount of the raise, it's real easy to figure out what your monthly payment is.

Are you comfortable with people being able to do that?

You can’t figure it out exactly. There are too many variables. Some people have a percentage of their SS money held back for taxes. The percentage amounts are different because you have a choice of the % taken. Some people get SS, but do not have Medicare Part B and some people pay $134 for Medicare Part B and some pay more or even less.