Your 2020 Social Security Cost of Living Increase 2019
Your 2020 Social Security Cost of Living Increase 2019
Your 2020 Social Security Cost of Living Increase 2019
BNC#: 19B1555C60072
JUAN T GONZALEZ
2665 S BRUCE ST APT 99
LAS VEGAS NV 89169-1749
Your Social Security benefits will increase by 1.6% in 2020 because of a rise in the cost
of living. You can use this letter as proof of your benefit amount if you need to apply for
food, rent, or energy assistance. You can also use it to apply for bank loans or for other
business. Keep this letter with your important financial records.
If you disagree with any of these amounts, you must write to us within 60 days from the
date you receive this letter. Or visit www.ssa.gov/non-medical/appeal to appeal online.
We would be happy to review the amounts.
If you receive a paper check and want to switch to an electronic payment, please visit
the Department of the Treasury's Go Direct website at www.godirect.org online.
If you are younger than full retirement age at any time in 2020, there is a limit to how
much you can earn before we reduce your benefits. Continuing to work could result in
withholding some of your benefits. However, we would adjust your benefit amount once
you reach full retirement age to account for the months of withheld benefits. Also, we
use your 35 highest years of earnings to calculate your benefits. If you continue to work
and these earnings are higher than one of the years we used to compute your benefit,
your benefit amount may increase. Tell us right away if you expect to earn more than
the limit, so we can pay you correctly.
• The 2020 earnings limit for people under full retirement age all year is $18,240.
We deduct $1 from your benefits in 2020 for each $2 you earn over $18,240.
• The 2020 earnings limit for people turning full retirement age is $48,600. We
deduct $1 from your benefits in 2020 for each $3 you earn over $48,600 until
the month you reach full retirement age.
• The 2019 earnings limit for people under full retirement age all year was
$17,640.
• The 2019 earnings limit for people who turned full retirement age in 2019 was
$46,920.
Medicare Information
• Starting January 1, 2020, you should use your new Medicare card to get care.
Old cards with Social Security numbers will no longer be accepted. If you do
not have a new Medicare card, call 1-800-MEDICARE (1-800-633-4227) (TTY
1-877-486-2048).
• To learn about Medicare eligibility or to apply, visit
www.ssa.gov/medicare/mediinfo.html or call Social Security at 1-800-772-1213
(TTY 1-800-325-0778).
• If you do not sign up for Medicare Part B (medical insurance) when you are first
eligible, or if you cancel Part B and then get it later, you may have to pay a late
enrollment penalty for as long as you have Part B.
• For questions about Medicare coverage and billing, visit www.Medicare.gov or
call 1-800-MEDICARE (1-800-633-4227) (TTY 1-877-486-2048).
• The Extra Help program may help pay the costs of a Medicare Prescription
Drug Plan for people with limited income and resources. Costs include
premiums, deductibles, and co-payments. You can apply online at
www.ssa.gov/medicare/prescriptionhelp or call Social Security at
1-800-772-1213 (TTY 1-800-325-0778).
• The Medicare Savings Programs may help pay for Medicare premiums and
other out-of-pocket costs for people with limited income and resources. You
can start the application process when you apply for Extra Help or you can
contact your State or local medical assistance (Medicaid) office.