Hello-
I am 90 years old and Social Security keeps reducing my check >[ over the last 9 years ]
on the grounds that " I make to much income "

{ I am not working,naturally at my age } , however I do own stock,,,,
Is this legal ?
I don't understand how they can cut my check
when that is money I worked for my whole life.

Any advice will be greatly appreciated
Thank you
Joe

Hi Joe,

Your actual Social Security benefit rate would not be reduced regardless of how much income you have, but the net amount of your payment could go down depending on what is being withheld from your benefits. Unless you've requested to have income taxes withheld from your benefits, my best guess at a reason for your net payments going down would be Medicare premiums.

If you are single and your income is more than $85,000 per year or if you're married and your combined incomes are more than $170,000 per year, then the amount that you would have to pay for Part B Medicare premiums is variable depending upon your level of income. For more specific information on this provision, refer to the following reference from Medicare's website: https://www.cms.gov/newsroom/fact-sheets/2018-medicare-parts-b-premiums-....

I don't have enough information about your circumstances to know for sure if Part B Medicare premiums are the cause of your benefit rate going down, but that's the only explanation I can think of. If you don't think this applies in your case, you may want to check with Social Security for an explanation.

Best, Jerry