COLA 2019: 2.8% Benefit Increase - U.S. Social Security
Author: The United States Social Security Administration(i) : Contact: www.ssa.gov
Synopsis and Key Points:
Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 2.8 percent COLA for 2019.
Social Security and Supplemental Security Income (SSI) benefits for more than 67 million Americans will increase 2.8 percent in 2019, the Social Security Administration announced today.
Based on the increase in the Consumer Price Index (CPI-W) from the third quarter of 2017 through the third quarter of 2018, Social Security and Supplemental Security Income (SSI) beneficiaries will receive a 2.8 percent COLA for 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).
The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor's Bureau of Labor Statistics.
Some other adjustments that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $132,900 from $128,400.
Social Security and SSI beneficiaries are normally notified by mail in early December about their new benefit amount.
This year, for the first time, most people who receive Social Security payments will be able to view their COLA notice online through their my Social Security account. People may create or access their my Social Security account online at www.socialsecurity.gov/myaccount
Information about Medicare changes for 2019, when announced, will be available at www.medicare.gov
For Social Security beneficiaries receiving Medicare, Social Security will not be able to compute their new benefit amount until after the Medicare premium amounts for 2019 are announced.
Final 2019 benefit amounts will be communicated to beneficiaries in December through the mailed COLA notice and my Social Security Message Center.
The Social Security Act provides for how the COLA is calculated. To read more, please visit www.socialsecurity.gov/cola
(i)Source/Reference: The United States Social Security Administration. Disabled World makes no warranties or representations in connection therewith. Content may have been edited for style, clarity or length.
- 1 - No COLA Likely For 2021 Social Security Benefits Lose 30% of Buying Power Since 2000 : The Senior Citizens League (TSCL) (2020/05/12)
- 2 - Social Security Compassionate Allowance Conditions List : Disabled World (2009/02/24)
- 3 - Fibromyalgia and Social Security Disability Benefit Payments : Jeffrey A. Rabin & Assoc (2010/06/26)
- 4 - U.S. Social Security Urged to Suspend All Continuing Disability Reviews Due to COVID-19 : United States Senator Sherrod Brown (2020/03/19)
- 5 - Due to COVID-19 Social Security Offices to Provide Phone and Online Services Only : United States Social Security Administration (2020/03/16)
- 6 - Social Security National Slam the Scam Day : U.S. Social Security Administration (2020/03/05)
- 7 - Social Security Removes Inability to Communicate in English as Disability Benefit Factor : U.S. Social Security Administration (2020/02/24)
• Disabled World is strictly a news and information website provided for general informational purpose only and does not constitute medical advice. Materials presented are in no way meant to be a substitute for professional medical care by a qualified practitioner, nor should they be construed as such. Any 3rd party offering or advertising on disabled-world.com does not constitute endorsement by Disabled World.
• Please report outdated or inaccurate information to us.