Q & A
I had additional earnings after I retired; will my monthly Social Security retirement benefit increase?
Answer: Each year (Social Security) reviews the records for all working Social Security recipients to see if additional earnings may increase their monthly benefit amounts. If an increase is due, (Social Security) will figure a new benefit amount and pay the…
What is the special rule about earnings in the first year of retirement?
Answer: Sometimes people younger than full retirement age retire in the middle of the year and have already earned more than the yearly earnings limit. There is a special rule that applies to earnings for one year, usually the first year…
What is the maximum Social Security retirement benefit payable?
Answer: The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2014, your maximum benefit would be $2,642. However, if you retire at age 62 in 2014, your maximum benefit would be $1,992. If you retire at age 70…
How can I get a form SSA-1099/1042S, Social Security Benefit Statement?
Answer: If you get Social Security benefits, (Social Security) mails Form SSA-1099 to you each January. It shows your total benefits for the previous year. If you are a noncitizen who lives outside of the United States and you got or…
Who can get a lump-sum death benefit?
Answer: (Social Security) will mail your card as soon as your documents have been verified. You should receive your card within 10 business days from the date on your receipt. Your replacement card will have the same number as your previous…
How do I check the status of a pending application for survivor benefits?
Answer: If you applied for benefits, you can check the Status of Your Application online. Your application status shows: The date we received your application; Any requests for additional documents; The address of the office processing your application; and If a decision has been…
I saw the report that 65-year-old couples will need more than $200,000 for health care costs during retirement. Why is the amount so steep, and what can I do to lower these costs?
Answer: Fidelity’s annual retiree health care cost estimate found that couples retiring this year at age 65 will need $220,000 for health care costs during retirement (the same figure as last year’s study). The cost assumes the couple has traditional Medicare and pays deductibles…
What is “original Medicare” vs “traditional Medicare”?
Full Question: I am turning 65 in December and retiring because of my health. I had a triple by-pass September 2013 and last week I talked with the office manager at my cardiologist’s office about me getting on Medicare and what…
I recently divorced after 25 years of marriage. My ex-wife is seven years older than me. She is currently 65. I am going to be 58. At age 62, may I receive her Social Security benefit? Is it advisable to do so?
Answer: You can start collecting reduced spousal benefits at 62. But you will also be forced to take your retirement benefit early. A better strategy may be to a) wait until you reach full retirement age — 66 in your case…
I am not yet 65, but I am receiving Social Security benefits. I qualify for Medical Assistance, or Medicaid, and I am enrolled in the Neighborhood Health Plan of Rhode Island through HealthSource RI, under the provisions of the Affordable Care Act. What, if anything, will change when I turn 65?
Answer: According to the Rhode Island Executive Office of Health and Human Services, you are one of more than 56,000 people who signed up for health insurance based on expanded Medicaid eligibility available to Rhode Islanders under the Affordable Care Act,…