2019 Social Security and Public Benefit Figures

2019 Social Security and Public Benefit Figures

In most years, the money amounts pertaining to eligibility for, and benefits from, various governmental benefit programs change.  Listed below are the 2019 figures for some Social Security, Medicare and Medicaid programs, along with summary description for each.
2019 Medicare Figures
Part A 

Deductible — $1,364 out-of-pocket per benefit period (up to 60 days of inpatient hospital care)

Coinsurance — $ 341 per day for days 61 through 90, per benefit period, and
$ 682 per day for “non-renewable lifetime reserve days” (days 91-150)

Premium* —     $ 437 per month (if less than 30 lifetime “quarters of coverage” paid in & not qualified for free Part A)
$ 240 reduced premium (seniors with 30 to 39 quarters of coverage paid in, and certain disabled persons with 30 or more quarters of coverage)

Part B 

Deductible — $ 185 per year

Premium —    $ 109.00 per month (single w income <$85K; joint <$170K)
($135.50 for those not collecting Social Security benefits, first time Part B enrollees, dual eligibles with premiums paid by Medicaid, and high-income beneficiaries who pay an additional income-related premium per list below; (about 30% of enrollees)
$ 189.60 (single w income $85,000-107,000; joint $170,000-214,000)
$ 270.90 (single w income $107,000-133,500; joint $214,000-267,000)
$ 352.20 (single w income $133,500-160,000; joint $267,000-320,000)
$ 433.40 (single w income $160,000-500,000; joint $320,000-750,000;
$ 433.40 (married filing separately $85,000-415,000)
$ 460.50 (married filing separately >$415,000)

Nursing Home Copay —   $ 170.50 per day (payable by resident for days 21 through 100 in nursing home where Medicare pays first 20 days; Medicare Supplement Insurance will pay this copay)

$ 126,420- Community Spouse Resource Allowance (CSRA) – amount of    countable assets the at-home spouse can own for nursing home spouse to qualify for Medicaid)* [*Note: this limit only applies for month of application]
$ 3,160.50- Monthly Maintenance Needs Allowance (MMNA) – if at-home spouse’s income is less than this, s/he may be able to keep some of nursing home spouse’s income to get up to this amount
$ 2,313- Nursing Home “Income Cap” – but can still get Medicaid eligible if income is greater
$ 6,832- Transfer Penalty Divisor – if Medicaid applicant or spouse gave assets to others within 5 years prior, divide total transferred by this divisor to determine number of months Medicaid will not pay nursing home
$ 585,000- Home Equity Exemption – Medicaid will not count a residence up to this amount of value as an asset for eligibility
SSI Maximum Benefit (based on countable income):  $771 (individual)   $1,157 (couple)
Exemption for Dependent Family Member:  $386 (per dependent person, not counted for income determination)
Student Income Exclusion:   $1,870/month,  $7,550/year – not counted to determine income
2019 Social Security Disability Insurance (SSDI)
SGA Income limit: $1,2250 ($2,040 blind) – not eligible for disability if earn more than this per month (Note: unearned income, such as gifts, rent payments, trust payments, interest, dividends are NOT counted as income)
Quarter of Coverage: $1,360 – must have paid in 40 quarters of coverage in Social Security-covered earnings to be eligible for SSDI (less for certain young workers).
2019 Social Security Retirement
Full Retirement Age : 65 (born in 1937); 65 and 2 months (born in 1938); 65 and 4 months (born in 1939); 65 and 6 months (born in 1940); 65 and 8 months (born in 1941); 65 and 10 months (born in 1942); 66 (born 1943 – 1954); 66 and 2 months (born 1955); 66 and 4 months (born 1956); 66 and 6 months (born 1957); 66 and 8 months (born 1958); 66 and 10 months (born 1959); 67 (born 1960 or after) – if wait to file at FRA, can have unlimited earnings without causing SSI reduction.
Maximum Social Security Retirement benefit at FRA: $2,861
Average Social Security benefit: $1,461
Under full retirement age: SS retirement benefits reduced $1 for every $2 over earnings limit ($17,640/yr, $1,470/mo. in 2019.) Spousal benefits are also reduced due to your excess earnings. In the year reach full retirement age, reduced $1 for each $3 earn above a different limit ($46,920/yr, $3,910/mo. in 2019) but only before the month you reach full retirement age. Only self-employment and wage income are considered – passive income is not counted.
Maximum Taxable Payroll Earnings: $132,900 (2019)
Tax Rates: Employee 7.65% (6.20% Soc Sec, 1.45% Medicare)
Self-employed: 15.30%

Taxpayer’s Age At End of Tax Year – Deductible Limit

Attained age during taxable year        Maximum deduction for premiums paid during year
40 or less                                             $420
41 – 50                                                 $790
51 – 60                                                $1,580
61 – 70                                                $4,220
More than 70                                       $5,270
Courtney Elder Law Associates are here to help you and your loved ones navigate Social Security and other public benefits.  Please don’t hesitate to call us if we can be of service to you.