U.S. - Social Security Cost-of-Living Adjustment (COLA) Info for 2019

[Pib]

Just announced...2.8% Social Security pension COLA adjustment for 2019  This 2.8% COLA also applies to other benefits like most military retirement pensions, etc.

 

See full announcement at: https://www.ssa.gov/cola/

 

 

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Social Security and Supplemental Security Income (SSI) benefits for more than 67 million Americans will increase 2.8 percent in 2019.

 

The 2.8 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 62 million Social Security beneficiaries in January 2019. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2018. (Note: some people receive both Social Security and SSI benefits.)

 

 

 

 

And the standard Medicare Part B premium with be $135.50 for most folks; up from $134.00 for 2018.   So, if you are paying Part B you should still get most of the 2.8% Social Security COLA pension increase vs Part B eating up most/all of the increase.

 

More info at weblink below.

https://www.medicare.gov/your-medicare-costs/medicare-costs-at-a-glance

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2019

The standard Part B premium amount in 2019 will be $135.50. Most people will pay the standard Part B premium amount. If your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you'll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.

 

 

Edited October 16, 2018 by Pib