2018 and 2019 Social Security Calculation Worksheet

Social Security Calculation Worksheet* Social Security & Supplemental Security Income (SSI) recipients receive a cost of living increase of 5.9% for 2022. * The top part of this worksheet is for Social Security income and the bottom part is for determining SSI income. * Using the 2022 SSI monthly benefit, you can compute the monthly benefit received in 2021.* Social Security benefits received in FFY22 cannot be calculated from the 2021 monthly benefit because of the inconsistent Medicare Part B premiums and Medicare perscription costs to enrollees.Household Number: Social Security Calculating 2021 (prior year) Social Security income amount from a 2022 benefit.a. ENTER the net benefit amount of the 2022 monthly benefit. a.b. *Standard 2022 Medicare medical insurance premium: If 2022 award letter Medicare amount differs and/or Medicare prescription drug plan deductions are shown, put the total amount in b. ENTERb.170.1c. CALCULATION: Adds lines a and b (Results in 2022 gross benefit).c.=K11+K12d. Cost of living adjustment (COLA) factor =(K14/1)+1d.0.059e. Divide line d by line c. The result is the monthly gross 2021 income.e.=K13/I14f. Standard 2021 Medicare medical insurance premium. The 2021 Medicare amount and/or Medicare perscription drug plan are entered in Line f. If a different amount is known for 2021, f. ENTERf.148.5f. CALCULATION: Subtracts Line b. The result is the estimated monthly net 2021 income.g.=IF(K11="","",ROUNDDOWN(K15-K16,0))Supplemental Security Income (SSI) Calculating 2022 (current year) SSI amount from a prior year benefit:a. ENTER the amount of the 2021 SSI monthly benefita.1000b. Cost of living adjustment (COLA) factor

=(K21/1)+1b.0.059c. CALCULATION: Multiplies line a by line b. The result is the monthly 2022 SSI income.c.=ROUNDDOWN(K20*I21,0)Calculating 2021 (prior year) SSI amount from a current year benefit:a. ENTER the amount of the 2022 SSI monthly benefita.1059b. ENTER Cost of living adjustment (COLA) factor

=(K26/1)+1b.0.059c. CALCULATION: Divides line a by line b. The result is the monthly 2021 SSI income.c.=ROUNDDOWN(K25/I26,0)* The standard 2022 Medicare Part B premium is $170.10. The 2021 Part B premium was $148.5. ................
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