Monday, June 24, 2019
Home News Your social security check will increase by 2.8% in 2019

Your social security check will increase by 2.8% in 2019

For retirees who have recently opted for social benefits, this may be the first time they see a "real increase" in their monthly checks, said Joe Elsasser, president of Covisum, a provider of social security timing software, previously CNBC ,

For those receiving an average social security benefit of approximately $ 1,400, the cost of living adjustment for 2019 will be an additional $ 39 per month.

Medicare Part B premiums for next year have not been announced yet. Estimates write these premiums at $ 135.50 in 2019 for those with incomes below $ 85,000.

In the past, the increase in social security cost of living for many was eroded by higher Medicare premiums.

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That's unlikely to happen to as many people this year as 2018, according to Mary Johnson, senior social insurance and Medicare policy analyst.

Persons with social security benefits of around $ 600 to $ 634 could be hardest hit.

"This group will likely see their Part B premium take on their entire COLA in 2019," Johnson said.

The number of social security recipients with benefits in this area is around 5 million, according to Johnson, although not all of these people are necessarily enrolled in Medicare.

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