COLA announced. 2.8% increase in Social Security checks for 2019

On Thursday, October 11, 2018, the Social Security Administration announced a 2.8% cost-of-living adjustment (COLA) for 2019. This is the highest increase since 2012.

The 2.8% increase for 2019 follows a 2% increase for 2018, and a .3% increase for 2017.  There was no COLA adjustment in 2016.

The yearly COLA amount is based on increases in the Consumer Price Index which measures the cost of inflation for goods, but not health care.  Most people receiving Social Security are retired or disabled.  For most, health care is their biggest expense, and it is one of the fastest rising costs in America. The average Social Security check in 2018 was $1,422 a month.  Next year's increase will raise the average payment by $39.  For most beneficiaries, this year's increase will not be wiped out by an increase in Medicare premiums as it was last year.

Increases will go into effect on the first check in January of 2019.Social Security COLA rates through the years Graph

Social Security COLA Increases by Year (2003-2019)

Historical Social Security COLA increases 2003-2019

2003 COLA 1.4%
2004 COLA 2.1%
2005 COLA 2.7%
2006 COLA 4.1%
2007 COLA 3.3%
2008 COLA 2.3%
2009 COLA 5.8%
2010 COLA 0.0%
2011 COLA 0.0%
2012 COLA 3.6%
2013 COLA 1.7%
2014 COLA 1.5%
2015 COLA 1.7%
2016 COLA 0.0%
2017 COLA 0.3%
2018 COLA 2.0%
2019 COLA 2.8%

 

Loyd J. Bourgeois
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Disability and Personal Injury Attorney
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