Ask Terry Questions reduction in social security check

reduction in social security check

By Terry Savage on August 23, 2020 | Financial Planning / Retirement

I’m 72. For the first time EVER, my ss check was reduced by $45/mo even though there was a 1.6% increase.

Terry Says

That shouldn’t happen — UNLESS, you have a higher deduction for your Medicare Part B plan, or your Part D prescription drug plan. Probably it is the latter. And if so, when open enrollment comes around this December, you should go to Medicare.gov and see if you can enroll in a lower cost plan.

Recent Financial Planning / Retirement Questions

money

ASK TERRY

a personal
finance question