Social Security Questions? Ask a Social Security Expert
Good afternoon and thank you for posing your question regarding social security. My name is Alexander; I'm an EA and am happy to assist you with this issue.
Once you've reached age 70, you won't earn delayed retirement credits; however, if you're making more money now than you were early on in your work life, your current earnings will replace your earliest earnings and can lead to a higher maximum benefit when you are ready to apply. The SSA uses your 35 highest earning years to calculate your benefit.
If there are other concerns you have regarding whether you take your social security benefits, please let me know and I'll be happy to respond; your question was open enough that my response wasn't able to fully address your needs. Otherwise if you feel you've received a prompt and professional response to your question, please be sure to rate me as such. Thank you,
Thank you for clarifying your request: your original request led me to believe you were asking whether you should apply for social security benefits, and my response addressed that.
As to whether you should apply for Medicare Part B benefits, you need to consider whether your current job offers health insurance (it appears it does, base on your initial request's wording of "still working full time with full benefits"). If you have not talked with your HR administrator at work yet, I recommend you do so: enrolling in Medicare Part B may supplement your employer-provided insurance and give you additional coverage/protection. It may be that you should continue to hold off on enrolling in Medicare Part B; however, your concern about penalties for not applying now is unnecessary: you can sign up for Medicare Part B without a penalty at ANY time you have health coverage based on current employment. This information is confirmed by the Medicare website: https://www.medicare.gov/sign-up-change-plans/get-parts-a-and-b/should-you-get-part-b/should-i-get-part-b.html#collapse-3156
Thank you for the opportunity to assist you with this matter; if there is anything further that needs to be clarified, please let me know. Otherwise, I look forward to receiving your rating of my service.