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Individual Income Tax Planning  2019 Federal Income Tax Rate Schedules

 2018 Federal Income Tax Rate Schedules  Business Planning  Education Planning  

Protection Planning  Estate Planning  Government Benefits  Retirement Planning  Investment Planning

2019 Government Benefits Key Numbers

Social Security

Social Security Cost-of-living adjustment (COLA)20182019
For Social Security and Supplemental Security Income (SSI) beneficiaries2.00%2.80%
Tax rate--employee20182019
FICA tax -- Employee7.65%7.65%
Social Security (OASDI) portion of tax6.20%6.20%
Medicare (HI) portion of tax1.45%11.45%1
Tax rate--self-employed20182019
Self-Employed15.30%15.30%
Social Security (OASDI) portion of tax12.40%12.40%
Medicare (HI) portion of tax2.90%12.90%1

1 An additional 0.9% Medicare/hospital insurance tax (for a total employee contribution of 2.35%) is assessed on wages exceeding $200,000 ($250,000 for married couples filing joint returns, $125,000 for married individuals filing separate returns). An additional 0.9% Medicare/hospital insurance tax (for a total Medicare portion of 3.8%) is assessed on self-employment income exceeding $200,000 ($250,000 for married couples filing joint returns, $125,000 for married individuals filing separate returns).

Maximum taxable earnings20182019
Social Security (OASDI only)$128,400$132,900
Medicare (HI only)No limitNo limit
Quarter of coverage20182019
Earnings required$1,320$1,360
Retirement earnings test--exempt amounts--Under full retirement age--Benefits reduced by $1 for each $2 earned above:20182019
Yearly figure$17,040$17,640
Monthly figure$1,420$1,470
Retirement earnings test--exempt amounts--Year individual reaches full retirement age--Benefits reduced by $1 for each $3 earned above (applies only to earnings for months prior to attaining full retirement age):20182019
Yearly figure$45,360$46,920
Monthly figure$3,780$3,910
Retirement earnings test--exempt amounts--Beginning the month individual attains full retirement age20182019
No limit on earningsNo limit on earnings
Social Security disability thresholds20182019
Substantial gainful activity (SGA) for the sighted (monthly figure)$1,180$1,220
Substantial gainful activity for the blind (monthly figure)$1,970$2,040
Trial work period (TWP) (monthly figure)$850$880
SSI federal payment standard20182019
Individual (monthly figure)$750$771
Couple (monthly figure)$1,125$1,157
SSI resource limits20182019
Individual$2,000$2,000
Couple$3,000$3,000
SSI student exclusion limits20182019
Monthly limit$1,820$1,870
Annual limit$7,350$7,550
Maximum Social Security benefit20182019
Worker retiring at full retirement age (monthly figure)$2,788$2,861
Formula for Monthly Primary Insurance Amount (PIA)20182019
(90% of first X of AIME + 32% of the AIME over X and through Y + 15% of AIME over Y)X=$895 Y=$5,397X=$926 Y=$5,583


Medicare

Medicare monthly premium amounts--Part A (hospital insurance) premium20182019
Individuals with 40 or more quarters of Medicare-covered employment$0$0
Individuals with less than 40 quarters of Medicare-covered employment who are not otherwise eligible for premium-free hospital insuranceUp to $422Up to $437
Medicare monthly premium amounts--Part B (medical insurance) monthly premium--for beneficiaries who file an individual income tax return with income that is:20182019
Less than or equal to $85,000$1342$135.502
$85,001 - $107,000$187.50$189.60
$107,001 - $133,500$267.90$270.90
$133,501 - $160,000$348.30$352.20
$160,001 - $499,999$428.60$433.40
$500,000 and above$428.60$460.50
Medicare monthly premium amounts--Part B (medical insurance) monthly premium--for beneficiaries who file a joint income tax return with income that is:20182019
Less than or equal to $170,000$1342$135.502
$170,001 - $214,000$187.50$189.60
$214,001 - $267,000$267.90$270.90
$267,001 - $320,000$348.30$352.20
$320,001 - $749,999$428.60$433.40
$750,000 and above$428.60$460.50
Medicare monthly premium amounts--Part B (medical insurance) monthly premium--for beneficiaries who are married, but file a separate tax return from their spouse and lived with spouse at some time during the taxable year with income that is:20182019
Less than or equal to $85,000$1342$135.502
$85,001 - $414,999$428.60$433.40
$415,000 and above$428.60$460.50

2 This is the standard Part B premium amount. However, some people who get Social Security benefits will pay less than this amount.

Original Medicare plan deductible and coinsurance amounts--Part A (hospital insurance)20182019
Deductible per benefit period$1,340$1,364
Coinsurance per day for 61st to 90th day of each benefit period$335$341
Coinsurance per day for 91st to 150th day for each lifetime reserve day (total of 60 lifetime reserve days--nonrenewable)$670$682
Original Medicare plan deductible and coinsurance amounts20182019
Skilled nursing facility coinsurance per day for 21st to 100th day of each benefit period$168$170.50
Original Medicare plan deductible and coinsurance amounts--Part B (medical insurance) annual deductible20182019
Individual pays 20 percent of the Medicare-approved amount for services after deductible is met$183$185


Medicaid

Income threshold20182019
Monthly income threshold for income-cap states ("300 percent cap limit")$2,250$2,313
Monthly maintenance needs allowance for at-home spouse20182019
Minimum 3$2,030.00$2,057.50
Maximum$3,090.00$3,160.50
Spousal resource allowance20182019
Minimum$24,720$25,284
Maximum$123,600$126,420

3 Amounts listed actually effective as of July of prior year; different amounts apply to Alaska and Hawaii.

Individual Income Tax Planning  2019 Federal Income Tax Rate Schedules

 2018 Federal Income Tax Rate Schedules  Business Planning  Education Planning  

Protection Planning  Estate Planning  Government Benefits  Retirement Planning  Investment Planning

This information was prepared by Broadridge Investor Communication Solutions, Inc. and has been made available for Voya Financial Advisors’ representatives for distribution to the public for educational information only. Broadridge Investor Communication Solutions, Inc. is not affiliated with nor controlled by Voya Financial Advisors. The opinions/views expressed within are that of Broadridge Investor Communication Solutions, Inc. and do not necessarily reflect those of Voya Financial Advisors or its representatives. In addition, they are not intended to provide specific advice or recommendations for any individual. Neither Voya Financial Advisors nor its representatives provide tax or legal advice. You should consult with your financial professional, attorney, accountant or tax advisor regarding your individual situation prior to making any investment decisions.

Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2019.