Ask Larry: Questions and Answers | BAM - Maximize My Social Security

Displaying 1571 - 1580 of 10063 questions.

Is This A Scam?

I am living a nightmare with Social Security. I turned 70 in August and was counting on my full benefit for retirement. Shortly before my birthday a rep from SS called to encourage me to take a lump sum and a lower benefit, I said NO , he ignored me and processed the lump sum and reduced benefit without my permission. I have been fighting with SS for 7 months to get this rectified with no results. One of my friends who just turned 70 experienced the same problem. Seems like they are preying on folks approaching 70. Feels like a scam to me. Thanks, Carla

Hi . . . Read More

Category: Miscellaneous
Posted: Dec 16 2021 - 12:18pm

What Can I Do About Social Security Withholding Medicare Premiums?

Just about to turn 65. S.S. sent me a letter saying they will be taking 170 dollars a month for part b for Medicare. What can I do

Hi. Well, you could choose to decline the automatic enrollment in Part B of Medicare, but then if you need to see a doctor or go to an emergency room you'll have to pay the bill yourself unless you have other health insurance coverage that's primary to Medicare. Also, there are only certain periods of time in which you can enroll in Part B of Medicare. If you decline to enroll in your initial enrollment period at age 65 and . . . Read More

Category: Medicare
Posted: Dec 16 2021 - 11:56am

Will Your Software Allow Me To Calculate How Much My Benefit Rate Would Be Reduced If I Earn More?

My child has been approved for dac due to intellectual disabilities My mother's benefit for a child in care were reinstated. They stopped last yr because she turned 16. We were receiving survivor benefits. Next year, I may earn more than the income limit for my benefit. Do I get it back later like retirement beneficiaries? Will your software allow me to calculate the additional income and how much it would reduce my benefit.? Is there an earned amount that would reduce my benefit to 0?

Hi. Yes, our software ( . . . Read More

Category: Maximize My Social Security Software
Posted: Dec 15 2021 - 6:22pm

Why Don't I Get More?

We receive a 5.9% increase, due to the Cost Of Living raise.

Then the cost of Medicare Medical Insurance increases each year.

So, the total 5.9% increase, isn't totally being given to Social Security Recepient.

Also, if you receive EBT (Food Program), it's a joke! The raise will decrease amount you receive tremendously.

It reminds me of the phrase, it beats a blank!

I hope you understand, my questions, per my comments.

Thank you in advance, for your response.

Hi. I don't see a question in what you've written, but it . . . Read More

Category: Miscellaneous
Posted: Dec 15 2021 - 8:50am

How Much Will My Client's Two Younger Children Receive When Their Older Sibling Turns 18?

My client has 3 children. Her oldest will turn 18 in less than 3 yrs so we're trying to figure out how much the 2 younger children will get when that time comes. Getting anything in writing from SSA is challenging. Can you help us? I'm trying to do a home loan for this widow and her family.

Hi. The benefit rate that the 2 younger children will be paid depends on a) the deceased worker's primary insurance amount (PIA), and b) whether or not a widow is collecting benefits on the same account, and if so whether she's drawing regular widow's benefits or child . . . Read More

Category: Child Benefits
Posted: Dec 14 2021 - 5:14pm

Will The Government Raise My Benefit To Above Poverty Level In Addition To The COLA?

I only draw $755 soc.sec.wil the gov. raise that to above povery level besides the COLA or willI only get COLA raise

Hi. You'll only get the cost of living (COLA) increase. Social Security benefits are calculated based on the worker's Social Security covered earnings history. Social Security benefits are not needs based, so the poverty level has no bearing on the amount of a person's benefit.

Social Security does administer a separate needs-based benefit, though, which is called Supplemental Security Income, or SSI ( . . . Read More

Category: Miscellaneous
Posted: Dec 14 2021 - 12:19pm

What Options Does My Mother Have?

Hi Larry, writing on behalf of my 82 year old mom, who's PRE-DEDUCTION benefit was suspended without notice. She's been receiving about $400/month for many years. They sent her a letter informing her of an increase in her medicare/medicaid and -- oh by the way -- in that same letter we noticed her pre-deduction benefit was now $0. When we called all they could tell us was the pre-deduction benefit had been suspended but not why. My understanding has been that, short of criminal activity, they can't just suspend your pre-deduct benefit, and that they've essentially broken the . . . Read More

Category: Miscellaneous
Posted: Dec 13 2021 - 7:31pm

Can I Change The Date My Benefits Are Paid To The First Of The Month?

can I change the date of my benefit s to the 1st of the month

Hi. No. The date on which your Social Security benefits are paid is determined by law and can't be changed voluntarily. Since 1997, most people are now paid either on the 2nd, 3rd or 4th Wednesday of each month depending on the birthday of the worker on whose record they're receiving benefits. Some people are paid on the 3rd day of the month instead, but only if they a) applied for benefits prior to April 30 1997, or b) also receive Supplemental Security Income (SSI) payments, or c) live . . . Read More

Category: Payment Dates
Posted: Dec 13 2021 - 5:59pm

Is My Daughter's Income Considered For Food Stamp Eligibility?

Hi Larry. We live in Indiana. My minor daughter receives social security from her deceased father. In applying for food stamps, is her income considered as well? It does say the entire household income. Thank you much!!

Hi. I'm sorry but my expertise is limited to Social Security benefits so I'm unable to answer questions about the food stamp program.

Best, Jerry

Category: Miscellaneous
Posted: Dec 13 2021 - 5:56pm

Are The Social Security Taxes I've Paid Since I Started Collecting Benefits Returned To Me At Some Point?

I started collecting SS at age 62. I'm still working part time and making under $19000 a year. I'm currently 65 years old and need to know if the Social Security taxes that's being deducted from my paycheck will be forfeited or will I get those deductions back at a certain age?

Hi. No. You must pay Social Security taxes on any covered earnings you have regardless of whether or not you're drawing benefits and no matter how old you are at the time you earn the money. Those taxes go to the Social Security trust fund that's used to fund Social Security, they . . . Read More

Category: Earnings Subject To Social Security Taxes
Posted: Dec 13 2021 - 5:47pm

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