Medicare, Supplemental Security Income, and Social Security Benefits 

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social security

Question:

Will my Medicare premiums be higher because of my higher income? 

Answer: 

Some people with higher income may pay a larger percentage of their monthly Medicare Part B and prescription drug costs based on their income. We call the additional amount the income-related monthly adjustment amount. Visit Medicare Premiums: Rules For Higher-Income Beneficiaries to see if the adjustment amount applies to you. 

Related: Social Security Q&A: 3 Questions

Question:

I am receiving Supplemental Security Income (SSI) and I just started to work part-time. Do I have to report my earnings to Social Security? 

Answer: 

Yes. When you receive SSI, the law requires you to report your wages. 

Related: Top 5 Fraud and Scam Prevention Tools from Social Security Administration

Question:

I had additional earnings after I retired; will my monthly Social Security retirement benefit increase? 

Answer: 

Each year we review the records for every working Social Security beneficiary to see if the additional earnings will increase their monthly benefit amounts. If an increase is due, we calculate your new benefit amount and pay the increase retroactive to January following the year of earnings. For example, if you have earnings in 2024 that will increase your monthly benefit amount, we will increase your benefit amount retroactive to January 2024 once we review your record.