Not affiliated with the US Social Security Administration

Can I Sign Up for Medicare Before Taking Social Security?

YES.

You can sign up for Medicare even though you haven't yet signed up for Social Security. In fact, delaying Social Security retirement benefits may work to your advantage.

However, you do not want to delay signing up for Medicare benefits. But, if you fail to sign up for Medicare during your initial enrollment period, you'll face a 10 percent increase in your Part B premiums that could raise your healthcare costs for life.

Tax Increases Seen as Way to Fix Social Security

Social Security expert Laurence Kotlikoff thinks that mostly tax increases will be the way Social Security will be patched up in the future :

Excerpt :

I doubt Congress will cut benefits of current low- and middle-income retirees. And the benefit cuts levied on current rich beneficiaries will likely be implemented by making 100 percent, not 85 percent, of Social Security benefits taxable under the income tax. Congress will also likely eliminate the ceiling on taxable earnings.

Beware of Social Security Identity Theft Scam

Citizens across the country are receiving calls from an individual posing as a Social Security employee. The caller tells the victim they are due a 1.7 percent cost-of-living adjustment (COLA) increase of their Social Security benefits. The impersonator then asks the victim to verify their personal information to receive the increase. Reports show the calls have been coming from a phone number with a 323 area code. This call is fraudulent.

Pages


Sponsored Links

Recent Content

Four Factors that Determine Your Social Security Retirement Benefit

Your Social Security retirement benefit largely depends on the following four factors :

* Your work history => Longer yields a higher benefit

* Your earnings history => Higher earnings yields higher benefit (at decreasing rate)

* Your birth year => Born earlier means higher relative benefit

* Your claiming age => Starting benefits later means higher benefit

What Social Security May Look Like in 2035

Interesting article which looks at how Social Security may fare in the year 2035.

Highlights :

* The worker-to-beneficiary ratio will drop from 2018's 2.8 to 2.2-to-1.

* Workers will have to wait longer to receive "full" benefits

* Social Security's "trust fund" will be exhausted

* Substantial benefit cuts may be needed

* Payroll taxes will be critical to pay for benefits

* Social Security benefits will continue to decline due to inflation

Ads


Sponsored Links

Subscribe to moneyhop.SocialSecurityHop.com RSS

Not affiliated with the US Social Security Administration