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

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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/

 

 

Quote

 

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

Quote

 

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.

 

 

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