It is that time of year. Those of you who are receiving Social Security benefits in 2022 should have received an annual COLA notice sometime during December (unless you have opted out of mailed notices – more on that below). A typical statement is shown on the left.
PLEASE keep this form, especially if you (or perhaps a parent) may be filing for Medicaid in 2022. When we help someone with Medicaid, one of the first things we’ll ask for is that statement. No, a bank statement showing a deposit won’t do. Why?
North Carolina’s Medicaid program verifies GROSS income, not net income. Gross income is the total amount of income before any deductions. Your 2022 COLA notice from Social Security will list your total Social Security benefits and also show deductions (notably Medicare premium deductions).
Without this notice you will need to either go online and setup an account with Social Security or go to a Social Security office and request a benefit statement.
Your best bet is to go online (NOW would be great) and setup an online account at ssa.gov. If doing anything online intimidates you, round up a child (or grandchild) to set up an account. You’ll need to stay close by because there will be some questions asked during the process that perhaps only you will be able to answer.
Setting up an online account will make life much easier for you later. Besides, it’ll be a trip down memory lane when you can see how much (or little) you earned on your very first job 100 years or so ago.
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