Some seniors may regret not doing this before they are 65 years old, Social Security reminds them to do so and avoid the costly consequences
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.
How can individuals with disabilities qualify for Medicare benefits?
Important things people with disabilities need to know to get Medicare benefits:
- You must first get SSDI for 24 months before you can get Medicare based on your condition. After that, starting in the 25th month, Medicare Parts A and B are added immediately.
- If you have certain problems, Medicare will cover you right away, without having to wait 24 months.
- For people with Amyotrophic Lateral Sclerosis (ALS), Medicare starts paying for you the month your SSDI starts.
- For people with End-Stage Renal Disease (ESRD), Medicare can begin 3 months after end-stage renal disease or a kidney donation. If you don’t have a work background, you must be married to or the child of someone who does.
- To get SSDI, you must have a physical or mental disability that has been medically confirmed. It has to be thought that it will last more than a year or end in death. It must be keeping you from doing important work.
- People who are 65 or older get the same Medicare perks and coverage as people who are younger. Care in a hospital, skilled nursing, home health, doctor visits, and other services are all part of this.
- It’s possible to keep your Medicare coverage for at least 8.5 years if you go back to work after getting it because of a handicap. Right now, you won’t have to pay any Part A fees.
- When you turn 65, Medicare will keep paying for your care. You will still be able to get help, but the reason will change from handicap to age.
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):
- Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.
- Most people don’t pay a premium for Part A if they or their spouse paid Medicare taxes while working.
- Has a deductible of $1,632 per benefit period in 2024 and daily coinsurance for stays over 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%.