For retirees who recently elected the benefits of social security, this may be the first time they see a "real increase" in their monthly allowances, Joe Elsasser, president of Covisum, a provider of social security timekeeping software , previously known as CNBC.
For those who collect an average social security benefit of around $ 1,400, the 2019 cost of living adjustment will amount to $ 39 additional per month.
Medicare Part B awards for the next year have not yet been announced. The estimates set those premiums at $ 135.50 in 2019 for those with incomes of less than $ 85,000.
In the past, the increase in the cost-of-life adjustment of social security has been consumed for many by higher Medicare premiums.
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This is unlikely to happen to so many people this year as in 201
Individuals with social security benefit from around $ 600 A $ 634 could be more affected.
"That group will probably see their Part B award occupy the entire COLA in 2019," Johnson said.
The number of social security beneficiaries with benefits in this range is around 5 million, according to Johnson, although not all of these individuals are necessarily enrolled in Medicare.