Social Security benefits to go up in 2019. Find out how big your check will be
If you’re like other retirees, you’re eager to see just how big your Social Security check will be next year.
The Social Security Administration has released its cost-of-living adjustment, or COLA, notices online.
To find out what your payment will be, log on to your My Social Security account. Your cost-of-living adjustment will be found in the message center.
Be warned: It may take more than one try in order to access your notice.
More from Fixed Income Strategies:
Investors avoid emerging markets due to currency volatility
What to do with an old 401(k)? Very little
Save for retirement … even without an employer 401(k)
“While thousands and thousands of our beneficiaries are accessing their notices online, our online portal is experiencing higher than normal volumes of log in attempts,” a Social Security spokeswoman said. “Some of our customers are not receiving their one-time pass code.
Video: Four ways retirees botch their Social Security benefits
Hate taxes? You might not want to retire here
Hate taxes? You might not want to retire hereUSA TODAY
Trump panel seeks higher postal prices
A presidential panel recommends the U.S. Postal Service hike prices for shipping packages after months of attacks on Amazon by President Donald Trump. Fred Katayama reports.Reuters
Dick’s CEO on how taking a stand on gun control hurt business
Dick’s Sporting Goods Chief Executive Ed Stack talks about the 62 employees who resigned after the retailer’s move to ban assault-style weapons and raise the gun-buying age to 21.The Wall Street Journal.
“If they experience this problem, we ask them to please try again later.”
Social Security recipients will get a 2.8 percent increase in 2019, following a cost-of-living adjustment announced by the agency in October.
That marks the biggest hike since 2012, when the cost-of-living adjustment was 3.6 percent .
The Social Security Administration is also scheduled to send cost-of-living adjustment notices by mail this month.
Current beneficiaries, including those who receive online notices, will receive paper notices.
Online notices will not be available to individuals with foreign addresses or those who pay higher Medicare premiums because of their income.
The Social Security Administration previously released a fact sheet that shows how the 2019 cost-of-living adjustment could change monthly benefits for beneficiaries.
Medicare Part B premiums are also slated to increase in 2019, but not enough to wipe away the Social Security COLA for many beneficiaries.
Most people will be subject to the standard Medicare Part B premium rate of $135.50 in 2019.
But if your modified adjusted gross income exceeds a certain amount — $85,000 or more and you file as an individual — you will pay more.
What you pay in premiums in 2019 is determined by your 2017 tax return.
About 2 million Medicare beneficiaries will actually pay less than $135.50 next year due to the “hold harmless” provision that protects certain beneficiaries from paying more for their Part B premiums.
Source : Link