The Social Security Administration (SSA) made a 2.8 percent increase to monthly Social Security and Supplemental Security Income (SSI) benefits for 2019. Take a look at some of the most significant changes as you create and update your financial plan for 2019:
2019 Social Security benefit highlights
Supplemental Security Income
SSI is a benefit for people who have disabilities, who are blind or who are 65 and older, and have limited income and resources. The benefit is $2,000 for single people and $3,000 married people. Children who are blind or have disabilities may also get SSI.
A full-time student who is blind or has a disability can still receive SSI benefits as long as earned income does not exceed the monthly and annual student exclusion amounts ($1,870/monthly and $7,550/yearly).
Call if you have questions about how your Social Security benefits affect your 2019 tax plan.