2018 Social Security raise

151949 · ‎03-09-2010

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.

OKPrincess · ‎03-10-2013

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.

chickenbutt · ‎03-09-2010

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.

151949 · ‎03-09-2010

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.

software · ‎06-08-2016

@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

ALRATIBA · ‎07-15-2016

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

Mz iMac · ‎07-26-2014

@151949

I thought SS did away w/checks years ago?

"Never argue with a fool. Onlookers may not be able to tell the difference."

151949 · ‎03-09-2010

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!