Social Security and Supplemental Security Income (SSI) benefits for more than 67 million people will increase by 2.8 percent in 2019.
The increase will begin with social security payments paid in January and SSI payments paid on December 31. The raise is a cost of living adjustment tied with a measure of inflation says Public Affairs Specialist Jack Myers.
With the increasing of the benefits, Medicare announced that the standard part B premium is increasing slightly from 134 dollars to 135.50 dollars said, Myers.
The new benefit amounts are not available yet, but will get calculated in December and letters will be mailed out. You can be among the first to know about the amount by creating my social security account at www.ssa.gov/myaccount said, Myers.
You can go to www.socialsecurity.gov or call 877-326-0108 for more information.