Medicare and Social Security
I have just turned 70 and an still employed and plan to work most of next year at least.
1. I have good insurance, should i sign up for A) Medicare Part A. ? B) Parts B, D, G(supplement)?
2. Does it make sense to start claiming Social Security ?
Terry Says
In reverse order:
1. DO NOT take SS until the month of your 70th birthday. Sign up the month before and make it clear you do not want benefits to start before you reach age 70.
2. If you continue to have full, comparable coverage, and your company does not require you to sign up for Medicare as part of their insurance plan, then stick with the company coverage.
In the months just before you retire, you can sign up for Medicare to start the month you retire, so there is no gap in coverage. At the same time, be sure to sign up for a Medicare Supplement and Part D — so you can qualify for the best plans. That signup does not wait for open enrollment — you have a “qualifying event” — retirement, so it should start immediately upon retirement.
