Social Security – SSA Announces Cost of Living Increases for 2019

The Social Security Administration (SSA) has announced a 2.8 percent cost-of-living adjustment (COLA) for Social Security and Supplemental Security Income (SSI) benefits in 2019. The Social Security Act provides for annual COLA increases based on inflation as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Because the CPI-W rose modestly over the last year, the 2019 COLA will increase benefits modestly. According to SSA, the average monthly Social Security benefit for a retired worker will increase by $39, from $1,422 in 2018 to $1,461 in 2019. The average monthly benefit for a Social Security disabled worker beneficiary will increase by $34, from $1,222 in 2018 to $1,234 in 2019. In addition, the SSI Federal Payment Standard will increase from $750 per month in 2018 to $771 per month in 2019. Important work incentive thresholds for Social Security and SSI beneficiaries with disabilities will also increase, including the Substantial Gainful Activity level and the Trial Work Period earnings level. View SSA’s fact sheet for more details on the 2019 Social Security COLA.

Social Security – House Committee Advances Online Tools Bill

Last week, the House Committee on Ways and Means marked up the Social Security Online Tools Innovation Act (H.R. 3309), sponsored by Rep. Sam Johnson (R-TX). As amended by the Committee, the bill would require the Social Security Administration to create within 2 years an online tool or tools to allow Social Security Disability Insurance (SSDI) beneficiaries to estimate the potential impact of earnings on their benefits. The bill would also prohibit recovery of any overpayments that arise from a beneficiary relying on inaccurate information from the tool (in the event of inaccuracy by the tool). The Committee reported the amended bill favorably by a voice vote. The Arc supports the bill, as amended and approved by the Committee, to provide SSDI beneficiaries with important information about opportunities to work and the impact of earnings on their SSDI benefits.

2012 Cost-of-Living Adjustment Announced

The Social Security Administration has announced that monthly Social Security and Supplemental Security Income (SSI) benefits will increase 3.6 percent in 2012. This is the first cost-of-living adjustment (COLA) in these programs since 2009. Increased payments to Social Security beneficiaries will begin January 2012; increased payments to SSI beneficiaries will begin on December 30, 2011. For some beneficiaries, their Social Security increase may be partially or completely offset by increases in Medicare premiums. Additionally, the Substantial Gainful Activity (SGA) levels for non-blind Social Security and SSI beneficiaries who work will increase from $1,000 to $1,010 per month. A Social Security fact sheet provides more details on the COLA increase.