Social Security – Essential Steps to Take Before Turning 65 if Your Full Retirement Age Is 66 or 67

As retirement approaches, many seniors focus on when to start claiming Social Security benefits. While some opt to begin as early as 62, others wait until 70 to maximize their monthly checks. However, there’s another critical step that many overlook until it’s almost too late: signing up for Medicare. The Social Security Administration (SSA) urges seniors to enroll in Medicare well before they turn 65 to avoid costly penalties and ensure they have the health coverage they need.

Early Medicare

Medicare is the United States’ health insurance program for people aged 65 and older. It provides essential coverage, helping to manage healthcare costs during retirement. There are two main parts: Part A, which covers hospital insurance, and Part B, which covers medical insurance. While some people might already know when they want to start receiving Social Security benefits, many are unaware of the need to sign up for Medicare before they hit 65.

Key Timing for Enrollment

The SSA reminds those approaching 65—particularly those aged 60-64—that they must sign up for Medicare three months before their 65th birthday. This early enrollment is crucial even if they plan to delay their Social Security benefits or continue working.

Failing to sign up for Medicare on time can lead to late enrollment penalties that will increase your Medicare Part B premiums for life. Additionally, delaying enrollment could result in a gap in health coverage, leaving you vulnerable to high medical costs if you need care before your Medicare kicks in.

The Full Retirement Age (FRA)

Many seniors wait until they reach Full Retirement Age (FRA) to claim Social Security. For those born in 1960 or later, the FRA is 67, while in 2024, it is 66 years and 8 months. However, even if you plan to delay your Social Security benefits until your FRA or later, Medicare enrollment at 65 is still necessary. You can start applying for Social Security up to four months before you want to start receiving payments, but Medicare enrollment should begin three months before your 65th birthday.

Sign Up for Medicare

The process of signing up for Medicare is straightforward, and the SSA offers multiple options to make it as easy as possible. Here’s what you need to know:

Online Enrollment

You can enroll in Medicare Parts A and B online at the SSA’s official website. If you only want to sign up for Part A, that’s possible too. This is particularly useful for those who have health coverage through an employer and want to delay Part B. Visit the SSA website at https://www.ssa.gov/medicare/sign-up and click on the “Apply online” button.

ESRD Patients

If you have End-Stage Renal Disease (ESRD), a condition that qualifies you for Medicare regardless of age, you can also enroll by calling 800-772-1213. When contacting the SSA, make sure to inform the representative that you have ESRD. This will help streamline your application process and ensure you receive the coverage you need as quickly as possible.

Language Support

If English isn’t your first language, don’t worry. The SSA provides support in Spanish and other languages to help you through the Medicare enrollment process.

Don’t Delay

The decision of when to start receiving Social Security benefits is personal and depends on your financial situation, health, and retirement goals. However, when it comes to Medicare, delaying can have significant financial consequences. By signing up three months before your 65th birthday, you can avoid lifelong penalties, ensure you have continuous health coverage, and enjoy peace of mind as you transition into retirement.

For those nearing 65, taking the time to know Medicare and completing the enrollment process should be a top priority. This simple step can save you from costly penalties and provide essential health coverage when you need it most.

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