I get a annual boost but my actual benefits go down, what’s going on?

Not a big deal but one that has me shaking my head. I was just informed of a 3.2% increase in my 2024 social security benefits however after an increase in Medicare insurance I’ll be getting a net DECREASE in monthly payments. Increases are intended to compensate for inflation, however my actual benefits went down so I’ll have less money to handle those higher prices! The net decrease is a little more than $2 but this makes no sense.

Terry Says

Welcome to the world of Social Security!