SS COLA increase

[Catica]

I read this https://www.ssa.gov/news/press/releases/2019/#10-2019-1
My father in law never received this increase, what to do about this?

[MDM]

I read this https://www.ssa.gov/news/press/releases/2019/#10-2019-1
My father in law never received this increase, what to do about this?

Are you sure?  E.g., can you compare a 2019 monthly statement to a 2020 monthly statement and find the gross is identical?  His Medicare premiums may also have increased, so you can't compare only the net amount.

[Catica]

I read this https://www.ssa.gov/news/press/releases/2019/#10-2019-1
My father in law never received this increase, what to do about this?

Are you sure?  E.g., can you compare a 2019 monthly statement to a 2020 monthly statement and find the gross is identical?  His Medicare premiums may also have increased, so you can't compare only the net amount.

Yes, I just checked.  I can go back only one year, so from May 2019 to April 2020, he received the same amount of $427. Even if the medicare premiums increased, the amount wouldn't be identical, right?

[MDM]

I read this https://www.ssa.gov/news/press/releases/2019/#10-2019-1
My father in law never received this increase, what to do about this?

Are you sure?  E.g., can you compare a 2019 monthly statement to a 2020 monthly statement and find the gross is identical?  His Medicare premiums may also have increased, so you can't compare only the net amount.

Yes, I just checked.  I can go back only one year, so from May 2019 to April 2020, he received the same amount of $427. Even if the medicare premiums increased, the amount wouldn't be identical, right?

Not right.  See Medicare Premiums to Increase By Almost $10 a Month in 2020.

The basic Medicare premium went up by $9.10/month.  SS benefits increased by 1.6%.  Anyone receiving less than $9.10/0.016 = $569/mo in 2019 would see no change in the net SS payment because their Medicare premium increase would be less than $9.10/mo - just enough less to match the 1.6% SS benefit increase.

[Catica]

I read this https://www.ssa.gov/news/press/releases/2019/#10-2019-1
My father in law never received this increase, what to do about this?

Are you sure?  E.g., can you compare a 2019 monthly statement to a 2020 monthly statement and find the gross is identical?  His Medicare premiums may also have increased, so you can't compare only the net amount.

Yes, I just checked.  I can go back only one year, so from May 2019 to April 2020, he received the same amount of $427. Even if the medicare premiums increased, the amount wouldn't be identical, right?

Not right.  See Medicare Premiums to Increase By Almost $10 a Month in 2020.

The basic Medicare premium went up by $9.10/month.  SS benefits increased by 1.6%.  Anyone receiving less than $9.10/0.016 = $569/mo in 2019 would see no change in the net SS payment because their Medicare premium increase would be less than $9.10/mo - just enough less to match the 1.6% SS benefit increase.

Thank you, this explains it.

[Rosy]

@Catica
Also - his future SS pmts will never drop below what he is already getting at present. If the COLA is high enough for him to receive an increase that will be his new (increased) basic SS pmt.
In other words, even if his medicare Plan B premiums were to go up way above the COLA increase - his SS pmts would not go down, but remain as is.
A small consolation, but nevertheless, quite reassuring if your SS pmts are on the low side. 

[Catica]

@Catica
Also - his future SS pmts will never drop below what he is already getting at present. If the COLA is high enough for him to receive an increase that will be his new (increased) basic SS pmt.
In other words, even if his medicare Plan B premiums were to go up way above the COLA increase - his SS pmts would not go down, but remain as is.
A small consolation, but nevertheless, quite reassuring if your SS pmts are on the low side.

Thanks Rosy, good to know.