Eggert Financial Management, Inc.

Cultivating Wealth, Shaping Legacies
Bill Eggert, CFP®, NSSA®
President
7200 S. Alton Way
Suite A-210
Centennial, CO 80112
303-414-0400
info@eggertfinancial.net
www.eggertfinancial.net

January 10, 2019

2019 Key Numbers
 

Government Benefits

Social Security

Social Security Cost-of-living adjustment (COLA)20192020
For Social Security and Supplemental Security Income (SSI) beneficiaries2.80%1.60%
Tax rate--employee20192020
FICA tax -- Employee 7.65%7.65%
Social Security (OASDI) portion of tax 6.20%6.20%
Medicare (HI) portion of tax1.45%11.45%1
Tax rate--self-employed20192020
Self-Employed15.30%15.30%
Social Security (OASDI) portion of tax 12.40%12.40%
Medicare (HI) portion of tax2.90%12.90%1

1 An additional 0.9% Medicare/hospital insurance tax (for a total employee contribution of 2.35%) is assessed on wages exceeding $200,000 ($250,000 for married couples filing joint returns, $125,000 for married individuals filing separate returns). An additional 0.9% Medicare/hospital insurance tax (for a total Medicare portion of 3.8%) is assessed on self-employment income exceeding $200,000 ($250,000 for married couples filing joint returns, $125,000 for married individuals filing separate returns).

Maximum taxable earnings20192020
Social Security (OASDI only)$132,900 $137,700
Medicare (HI only)No limitNo limit
Quarter of coverage20192020
Earnings required$1,360$1,410
Retirement earnings test--exempt amounts--Under full retirement age--Benefits reduced by $1 for each $2 earned above:20192020
Yearly figure$17,640 $18,240
Monthly figure$1,470$1,520
Retirement earnings test--exempt amounts--Year individual reaches full retirement age--Benefits reduced by $1 for each $3 earned above (applies only to earnings for months prior to attaining full retirement age):20192020
Yearly figure$46,920 $48,600
Monthly figure$3,910$4,050
Retirement earnings test--exempt amounts--Beginning the month individual attains full retirement age20192020
No limit on earningsNo limit on earnings
Social Security disability thresholds20192020
Substantial gainful activity (SGA) for the sighted (monthly figure)$1,220 $1,260
Substantial gainful activity for the blind (monthly figure)$2,040$2,110
Trial work period (TWP) (monthly figure)$880 $910
SSI federal payment standard20192020
Individual (monthly figure)$771 $783
Couple (monthly figure)$1,157$1,175
SSI resource limits20192020
Individual$2,000$2,000
Couple$3,000$3,000
SSI student exclusion limits20192020
Monthly limit$1,870 $1,900
Annual limit$7,550$7,670
Maximum Social Security benefit20192020
Worker retiring at full retirement age (monthly figure)$2,861 $3,011
Formula for Monthly Primary Insurance Amount (PIA)20192020
(90% of first X of AIME + 32% of the AIME over X and through Y + 15% of AIME over Y)X=$926 Y=$5,583X=$960 Y=$5,785

Medicare

Medicare monthly premium amounts--Part A (hospital insurance) premium20192020
Individuals with 40 or more quarters of Medicare-covered employment$0$0
Individuals with less than 40 quarters of Medicare-covered employment who are not otherwise eligible for premium-free hospital insuranceUp to $437Up to $458
Medicare monthly premium amounts--Part B (medical insurance) monthly premium--for beneficiaries who file an individual income tax return with income that is:20192020
Less than or equal to $87,000 $135.502$144.602
$87,001 - $109,000$189.60$202.40
$109,001 - $136,000 $270.90$289.20
$136,001 - $163,000 $352.20$376.00
$163,001 - $499,999$433.40$462.70
$500,000 and above$460.50$491.60
Medicare monthly premium amounts--Part B (medical insurance) monthly premium--for beneficiaries who file a joint income tax return with income that is:20192020
Less than or equal to $174,000 $135.502$144.602
$174,001 - $218,000$189.60 $202.40
$218,001 - $272,000$270.90$289.20
$272,001 - $326,000$352.20$376.00
$326,001 - $749,999 $433.40$462.70
$750,000 and above $460.50 $491.60
Medicare monthly premium amounts--Part B (medical insurance) monthly premium--for beneficiaries who are married, but file a separate tax return from their spouse and lived with spouse at some time during the taxable year with income that is:20192020
Less than or equal to $87,000 $135.502$144.602
$87,001 - $413,000 $433.40$462.70
$413,000 and above$460.50$491.60

2 This is the standard Part B premium amount. However, some people who get Social Security benefits will pay less than this amount.

Original Medicare plan deductible and coinsurance amounts--Part A (hospital insurance)20192020
Deductible per benefit period$1,364 $1,408
Coinsurance per day for 61st to 90th day of each benefit period$341 $352
Coinsurance per day for 91st to 150th day for each lifetime reserve day (total of 60 lifetime reserve days--nonrenewable)$682$704
Original Medicare plan deductible and coinsurance amounts20192020
Skilled nursing facility coinsurance per day for 21st to 100th day of each benefit period$170.50$176
Original Medicare plan deductible and coinsurance amounts--Part B (medical insurance) annual deductible20192020
Individual pays 20 percent of the Medicare-approved amount for services after deductible is met$185$198

Medicaid

Income threshold20192020
Monthly income threshold for income-cap states ("300 percent cap limit")$2,313$2,349
Monthly maintenance needs allowance for at-home spouse20192020
Minimum 3$2,057.50$2,113.75
Maximum$3,160.50TBD
Community spousal resource allowance20192020
Minimum$25,284 TBD
Maximum$126,420TBD

3 Amounts listed actually effective as of July of prior year; different amounts apply to Alaska and Hawaii.

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Eggert Financial Management, Inc. is an Investment Advisory firm regulated by the State of Colorado.

 

Prepared by Broadridge Advisor Solutions Copyright 2019.