As 2018 comes to a close and 2019 approaches, it is important to be aware of changes in Social Security amounts that will come into effect in 2019.
For SSI, the 2019 monthly maximum benefit amount will be $771, an increase from $750 in 2018. An eligible couple will have a monthly maximum amount of $1,157, up from the 2018 benefit limit.
How are these new amounts calculated? Social Security determines these amounts based on their determination of how the Cost of Living has increased from the prior year. The Social Security Administration has published their increase for 2019 is 2.8 percent. This is the largest annual increase since 2011.
For individuals applying for disability benefits, the Social Security Administration also states that an applicant must be unable to engage in “substantial gainful activity,” which is an annually set amount of monthly earnings calculated before taxes. For non-blind individuals, in 2019 the SGA amount will increase to $1,220 per month. The SSA determines this amount based on the annual changes in the National Average Wage Index, which go into effect January 1, 2019.
The process of filing for Social Security disability benefits can be both complicated and confusing. Call the offices of Lancaster & Eure today at 941-365-7575 for a free consultation regarding your potential disability case.