Your Social Security check could look different in 2019.
That's because recipients will get a 2.8 percent cost-of-living adjustment in 2019. Meanwhile, Medicare Part B premiums will see a slight bump to $135.50 in 2019, up from $134 in 2018.
Those premiums are typically deducted from your Social Security check, provided you are receiving both Social Security benefits and are covered by Medicare.
You will not know officially how your Social Security checks will differ in 2019 until December, when you can review your online Social Security account or a paper statement in the mail.
In a fact sheet on the 2019 changes, the Social Security Administration lays out how the cost-of-living adjustment could change monthly benefits for beneficiaries.
Estimated average monthly Social Security benefits payable in January 2019
| Beneficiaries | Before 2.8% COLA | After 2.8% COLA |
|---|---|---|
| All retired workers | $1,422 | $1,461 |
| Aged couple, both receiving benefits | $2,381 | $2,448 |
| Widowed mother and two children | $2,797 | $2,876 |
| Aged widow(er) alone | $1,348 | $1,386 |
| Disabled worker, spouse and one or more children | $2,072 | $2,130 |
| All disabled workers | $1,200 | $1,234 |
Source: Source: Social Security Administration
In case you are wondering what you will pay for your Part B premium, Medicare.gov has also provided its own chart to help you figure that out.
Most people are subject to the standard rate of $135.50 in 2019. But if your modified adjusted gross income according to your tax return exceeds a certain amount, you will pay more.
What you pay for Medicare premiums in 2019 is determined by your 2017 tax return.
If your income from that year is above $85,000, you will pay more for your Medicare Part B premiums based on what is called an Income Related Monthly Adjustment Amount.
What your Medicare Part B premium will be in 2019 based on your 2017 yearly income
| File individual tax return | File joint tax return | File married & separate tax return | You pay each month (in 2019) |
|---|---|---|---|
| $85,000 or less | $170,000 or less | $85,000 or less | $135.50Â |
| Above $85,000 up to $107,000 | Above $170,000 up to $214,000 | Not applicable | $189.60Â |
| Above $107,000 up to $133,500 | Above $214,000 up to $267,000 | Not applicable | $270.90Â |
| Above $133,500 up to $160,000 | Above $267,000 up to $320,000 | Not applicable | $352.20Â |
| $160,000 and less than $500,000 | Above $320,000 and less than $750,000 | Above $85,000 and less than $415,000 | $433.40 |
| $500,000 or above | $750,000 and above | $415,000 and above | $460.50 |
Source: Source: Medicare.gov
About 2 million Medicare beneficiaries will actually pay less than the $135.50 next year due to the "hold harmless" provision that protects certain Social Security beneficiaries from paying more for their Part B premiums.
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