Q & A
I think my parents made a bad choice when my dad started taking Social Security at 63. Mom is younger, still working, and in great health. According to her statement from Social Security, her benefits will be a fifth of his so I think she would benefit from a higher widow’s benefit. Can they undo his selection?
Answer: Their options depend on his current age. If it has been less than 12 months since he claimed benefits, he can stop his payments and pay back all of what he has received. By doing this, the Social Security Administration (SSA) will treat…
I have a duplex and rent out part of it. Will rental income affect my SSA retirement?
Answer: Only your gross wages or net income from self-employment is considered for annual earnings test purposes. Read more… Source: Howard I. Kossover, Social Security Administration Public Affairs Specialist Notice: The “Read more…” link provided above connects readers to the full text…
How many people work and pay into Social Security?
Answer: In 2010, about 157 million workers had earnings taxable under the Social Security program. Of these about 140.4 million had only wages, 10.4 million had only self-employment income, and 6.2 million had both. Combined these earnings totaled $5.32 trillion, which includes…
My wife is age 60, retired, and has medical insurance through my work policy. My work contract ends this summer and I plan to retire then, being over age 65 with Medicare coverage. Will my Medicare cover my wife also?
Answer: No, for two reasons. First, Medicare provides individual coverage only. It does not have family coverage. Second, age based Medicare cannot begin until age 65. Read more… Source: Howard I. Kossover, Social Security Administration Public Affairs Specialist Notice: The “Read more…” link provided…
How do I get a Social Security number for my newborn?
Answer: A very easy and popular method used by many new parents is the voluntary Enumeration at Birth (EAB) process. Enumeration at Birth starts while still at the hospital. Using it, the state agency that issues birth certificates sends the child’s birth registration information…
What is Medicare “Extra Help”?
Answer: Part of the Medicare prescription drug (Part D) program, the Extra Help low income subsidy can help pay for parts of Part D monthly premiums, annual deductibles and co-payments. If on Medicare, people receiving Supplemental Security Income (SSI) or medical assistance…
My young children receive Social Security survivors benefits because their father died several years ago. I will remarry in a few months. Will the children lose their survivors benefits if my new husband adopts them?
Answer: Adoption of a child already entitled to Social Security survivors benefits does not end his or her benefits. Read more… Source: Howard I. Kossover, Social Security Administration Public Affairs Specialist Notice: The “Read more…” link provided above connects readers to the…
I have an offer to join a new company and, if I accept it, my earnings will be much lower than now for at least several years. Can I estimate how lower earnings will reduce my future Social Security retirement?
Answer: Yes. Estimate the effect of lower or higher future earnings with the Retirement Estimator at http://www.socialsecurity.gov/estimator. One of the Social Security retirement planning tools at www.socialsecurity.gov/retire2, the Estimator connects to your actual Social Security earnings record to provide personal retirement estimates at age…
If I worked and made enough to draw Social Security benefits on my own, but could draw more from my husband, do I have a choice?
Answer: No, you don’t. When you retire and notify Social Security that you want to begin receiving retirement benefits, they will work with you to see that you get the largest amount possible. Here’s how it works: When the first spouse retires,…
My husband and I were married for about 35 years and recently divorced after a 9 year separation. He is 63 and will be retiring and collecting Social Security when he is 65. I would like to retire when I am 62. Now I do know that I can draw either his Social Security or mine depending on whose is higher. When I am 62 I will most likely draw on his because I am certain his will be more then mine since I was a stay at home wife for many years. My question is if I retire at 62, do I receive benefits based on me drawing at 62, or based on my ex drawing at 65 which could be a big difference?
Answer: Congress modified Social Security benefits in 1983. Now, if you were born after 1937, you can’t receive full Social Security benefits at age 65. Instead, the age at which you can retire and receive full benefits (your Full Retirement Age)…