Social Security Administration (SSA) workers can start getting retirement payments as early as age 62. But a lot of seniors would rather wait to retire until they are 70 to get an extra 24% a month.
Some people don’t want to work until they are 70, but they still want to file when they hit Full Retirement Age. If you were born after 1960, that’s 67. The Full Retirement Age is 66 years and 8 months in 2024. The people who work in America should all know one thing.
Social Security reminds seniors retirement aged 60-64
You need to sign up for Medicare three months before your 65th birthday if you are getting close to that age. SSA wants you to do that even if you aren’t ready to apply for US retirement payments yet.
If you are 67 years old and want to start getting Social Security income, you can file up to 4 months before the date you want to start. You can apply for Medicare, though, but only three months ahead of time.
There may still be people who don’t know what Medicare is for. It is health insurance for people 65 and older in the United States. Remember that SSA is where you can sign up for Medicare Parts A and B. It is possible to have any premiums taken out of your welfare payments.
Social Security explains how to sign up for Medicare
If you are 65 or older, remember that you can easily sign up for both Parts A and B online. To switch things up, you can also sign up online for just Part A. It’s important to note that some seniors may decide to wait to sign up for Part B because their employer’s group health plan covers them.
Visit the Social Security Administration’s (SSA) website at https://www.ssa.gov/medicare/sign-up and choose the “Apply online” choice to start the process. People with end-stage renal disease (ESRD) can also call 800-772-1213 for help.
People who have ESDR can easily fill out and send in their Medicare forms online. When you call the SSA, be sure to let the representative know about your situation. Help is given in Spanish and many other languages, so language hurdles are not a problem.
What are Medicare Part A and Part B, and how do they differ?
Old Medicare is made up of Medicare Parts A and B. People aged 65 and up, as well as some disabled younger people, are covered by this government program. Both parts work together to cover everything, but they do different things.
Key points about Medicare Part A (Hospital Insurance):
- It covers stays in a hospital, care in a skilled nursing center, hospice care, and some home health care.
- Most people don’t have to pay a fee for Part A if they worked and paid Medicare taxes with their spouse.
- Costs $1,632 per benefit period in 2024, and there is a daily share for stays longer than 60 days.
Key points about Medicare Part B (Medical Insurance):
- It pays for some doctor visits, outpatient care, medical equipment, and services that keep you healthy.
- It helps pay for things like going to the doctor, outpatient therapy, and some medications. A lot of long-lasting medical gear is also covered.
- For most recipients, the monthly premium will be $174.70 in 2024. People with higher incomes will pay more.
- In 2024, the deductible will be $240 per year, and the coinsurance on covered treatments will be 20%.