Why did our SSI payments decrease?

[Jeff Wisnia]

Late last year wifey and I received a notice that our SSI payments would
decrease in 2017 because our joint AGI in 2015 exceeded some limit. Our
monthly payments each decreased by about $70.00. I hadn't heard of this
before, in the past our payments only went up by a few dollars most
years. What is the reason behind this reduction of our payments? I do
realize that SSI is not an insurance policy in the usual sense of the
word and can be changed by the administration to suit their pleasure.

[Jeff Wisnia]

Post by Jeff Wisnia
Late last year wifey and I received a notice that our SSI payments would
decrease in 2017 because our joint AGI in 2015 exceeded some limit. Our
monthly payments each decreased by about $70.00. I hadn't heard of this
before, in the past our payments only went up by a few dollars most
years. What is the reason behind this reduction of our payments? I do
realize that SSI is not an insurance policy in the usual sense of the
word and can be changed by the administration to suit their pleasure.

I found out...

The amounts deducted from our monthly payments for Medicare and
Prescription Drug coverage increased because of our increased MAGI in
2015. That increase thingy was added in 2007.

Jeff