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)20182019
For Social Security and Supplemental Security Income (SSI) beneficiaries2.00%2.80%
Tax rate--employee20182019
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-employed20182019
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 earnings20182019
Social Security (OASDI only)$128,400 $132,900
Medicare (HI only)No limitNo limit
Quarter of coverage20182019
Earnings required$1,320$1,360
Retirement earnings test--exempt amounts--Under full retirement age--Benefits reduced by $1 for each $2 earned above:20182019
Yearly figure$17,040 $17,640
Monthly figure$1,420$1,470
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):20182019
Yearly figure$45,360 $46,920
Monthly figure$3,780$3,910
Retirement earnings test--exempt amounts--Beginning the month individual attains full retirement age20182019
No limit on earningsNo limit on earnings
Social Security disability thresholds20182019
Substantial gainful activity (SGA) for the sighted (monthly figure)$1,180 $1,220
Substantial gainful activity for the blind (monthly figure)$1,970$2,040
Trial work period (TWP) (monthly figure)$850 $880
SSI federal payment standard20182019
Individual (monthly figure)$750 $771
Couple (monthly figure)$1,125$1,157
SSI resource limits20182019
Individual$2,000$2,000
Couple$3,000$3,000
SSI student exclusion limits20182019
Monthly limit$1,820 $1,870
Annual limit$7,350$7,550
Maximum Social Security benefit20182019
Worker retiring at full retirement age (monthly figure)$2,788 $2,861
Formula for Monthly Primary Insurance Amount (PIA)20182019
(90% of first X of AIME + 32% of the AIME over X and through Y + 15% of AIME over Y)X=$895 Y=$5,397X=$926 Y=$5,583

Medicare

Medicare monthly premium amounts--Part A (hospital insurance) premium20182019
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 $422Up to $437
Medicare monthly premium amounts--Part B (medical insurance) monthly premium--for beneficiaries who file an individual income tax return with income that is:20182019
Less than or equal to $85,000 $1342$135.502
$85,001 - $107,000$187.50$189.60
$107,001 - $133,500 $267.90$270.90
$133,501 - $160,000 $348.30$352.20
$160,001 - $499,999$428.60$433.40
$500,000 and above$428.60$460.50
Medicare monthly premium amounts--Part B (medical insurance) monthly premium--for beneficiaries who file a joint income tax return with income that is:20182019
Less than or equal to $170,000 $1342$135.502
$170,001 - $214,000$187.50$189.60
$214,001 - $267,000$267.90$270.90
$267,001 - $320,000$348.30$352.20
$320,001 - $749,999 $428.60$433.40
$750,000 and above$428.60 $460.50
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:20182019
Less than or equal to $85,000 $1342$135.502
$85,001 - $414,999 $428.60$433.40
$415,000 and above$428.60$460.50

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)20182019
Deductible per benefit period$1,340$1,364
Coinsurance per day for 61st to 90th day of each benefit period$335$341
Coinsurance per day for 91st to 150th day for each lifetime reserve day (total of 60 lifetime reserve days--nonrenewable)$670$682
Original Medicare plan deductible and coinsurance amounts20182019
Skilled nursing facility coinsurance per day for 21st to 100th day of each benefit period$168$170.50
Original Medicare plan deductible and coinsurance amounts--Part B (medical insurance) annual deductible20182019
Individual pays 20 percent of the Medicare-approved amount for services after deductible is met$183$185

Medicaid

Income threshold20182019
Monthly income threshold for income-cap states ("300 percent cap limit")$2,250$2,313
Monthly maintenance needs allowance for at-home spouse20182019
Minimum 3$2,030.00$2,057.50
Maximum$3,090.00$3,160.50
Spousal resource allowance20182019
Minimum$24,720$25,284
Maximum$123,600$126,420

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.