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A couple of weeks ago I noticed the account that receives SS payments had an additional small payment. It left me scratching my head. Yesterday I received a notice telling me they had miscalculated my 2019 benefit.
They didn't have to do that. I would have never noticed I was missing a few hundred bucks. Plus, I received a check from our Palo Alto clinic as well. Apparently I double-paid. Oops.
I wonder how many other people are getting a "Christmas bonus" this season?
I got that too, a couple weeks ago. A mysterious $72 deposited in my account from SS.
OTOH, my increase is not 5.9% but half that. Not sure what to do about that. Isn't it 5.9% for everyone, or are there exceptions?
Got another letter today from my buddies at the SSA. "Based on the information we have you are due a refund for prescription drug coverage income-related monthly adjustment amounts (IRMAA)." DH received the same letter since he is subject to IRMAA as well. This is in reference to Medicare Part B as well as Part D.
I'm betting most people aren't subject to IRMAA.
They said they'd be sending me $788.70 in about a week. Thanks, guys and gals! I kind of want to send them a fruit basket.
There's another way of looking at your "happy situation"
You maybe overpaying everything TOO DAMN MUCH!
We don't have a choice. "Since 2007, high-income Medicare enrollees have been required to pay the IRMAA surcharge for Part B coverage. An IRMAA surcharge for Part D premiums took effect in 2011."
Since IRMAA is determined by income from your income tax returns two years prior, I'm guessing they're just getting around to looking at our 2019 return. Thus the refund.
A couple of weeks ago I noticed the account that receives SS payments had an additional small payment. It left me scratching my head. Yesterday I received a notice telling me they had miscalculated my 2019 benefit.
They didn't have to do that. I would have never noticed I was missing a few hundred bucks. Plus, I received a check from our Palo Alto clinic as well. Apparently I double-paid. Oops.
I wonder how many other people are getting a "Christmas bonus" this season?
Not quite the same as your experience but a nice surprise none the less. In 2015 I contacted SSA to get an estimate of what would be my survivor's benefit from 60 to my FRA as I planned to claim that 1st when I retired and delay taking my own sometime past my FRA. I had to pull teeth to get this info but eventually was sent a print out of my month by month survivor benefit amounts from 60 to my FRA. I called SSA several times since 2015 to inquire if those benefit amounts change yearly with COLAs and I was told each time I called no and that expected COLAs were already factored in to those benefit amounts. I decided to retire this past September at the age of 64.7, and with my print out from 2015 from SSA I thought I had a good idea of what my monthly benefit would be requesting it start in October with 1st benefit check coming in November. I had my phone appointment with SSA in mid August and was pretty shocked to learn that my survivor's benefit at 64.8 to the dime was the same amount on the 2015 SSA print out as what was listed as my FRA survivor benefit amount. I did not share anything about the print out I had with the SSA agent I had my appointment with, but did ask him if even if not yet claimed do the survivor benefit amounts receive annual COLAs and his response was yes. Not the additional $137/month more than I expected to get is huge, but that with the 2022 COLA will be more than enough to cover my Medicare Part B premium when I begin Medicare this coming February which a few sources I have come across note the lowest tier is expected to be $158.50/month which is a $10/month premium increase from last year.
I realize that, but on my SS site they said what the increase "would be" next year. Mine is half of 5.9% so wondering....
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