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Turning 65? You’re eligible to claim Medicare & Social Security. But should you?

This piece in USA Today penned by Christy Bieber notes that it pays to enroll in Medicare on time, because if you don’t, you could end up paying costly penalties that make your Part B premiums more expensive. But, if you plan to keep working, you may continue to have access to a group health insurance policy through your employer. If you like that coverage and want to keep it, you can delay Medicare enrollment and avoid a late signup penalty. But if you do not like your group plan, know that you’re allowed to work and get health coverage through Medicare at the same time. Bieber more thoroughly explains this in her piece, and notes age 65 is not full retirement age for Social Security purposes. Starting then will involve a cut in monthly benefits over waiting until age 67 or even age 70. Read article here.

The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.
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