Social Security payments in the United States are not the same for all beneficiaries. Each retiree has a completely individual payment. The amount a person receives from Social Security depends on a number of factors such as years worked, the year in which retirement begins, or the salary during the time of employment. Since each payment is unique, you should know exactly what payment you will receive to avoid surprises.
But there are some reasons that could change and lower your Social Security payment. If you don’t know these reasons, it is very likely that you could run into some problems in the future. So know all of these things well to avoid unpleasant surprises that completely change your monthly retirement check payment.
Reasons that could lower your Social Security payment
There are many reasons that could lower your Social Security payment, so here we are going to give you a few to consider everything you are doing:
Medicare payments
Medicare has four different parts: A, B, C and D. Each of these parts operates individually and has its own services. If you have worked and paid your taxes before you started collecting Social Security payments, you will have access to Part A with no problems and no additional payments. But the other parts are considered Medicare Premium. Therefore, you could be enrolled in this part of Medicare, so you would have to pay in that case.
Payment is made directly through your Social Security check, that is, it is deducted before the money gets to you. In this way, you may be paying for a service that you do not want or do not use, so it is better to go to an office and cancel this. If in doubt, you can go to your nearest local office and ask about this situation.
Careful with Creditor Attachment
If you have any acquired debt it is possible that creditors can garnish your Social Security payment. But don’t worry, the first $750 is insured for you to receive regardless of these debts you may have. But keep in mind that if you have debts to creditors you will have to pay them if you don’t want to see your benefit gradually reduced.
In addition to creditors such as banks, there are other types of debts that can reduce your Social Security payment. These debts may be related to the IRS, which may take your money to pay the corresponding taxes, or to student debts. In any case, if you see irregularities in these creditor collections you should ask a counselor for advice.