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ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 192
Experience:  Business Consultant/Accounting Manager
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I am nearing age 65. I do not intend to retire and I intend

Customer Question

Michael **********
*******
***********
I am nearing age 65. I do not intend to retire and I intend to stay with Kaiser.
What is required if I am not going to collect Social Security and am not going to sign up for Medicare?
I do want to obey the requirements set forth by your office and intend to comply with your recommendations. Is there anything that I need to do.
************ Cell
************ Work
Submitted: 4 months ago.
Category: Social Security
Expert:  ABC Accounting Group replied 4 months ago.

You can delay enrolling in Part B beyond age 65 without penalty if you have group health insurance from an employer for whom you (or your spouse) are still working. When you retire and this coverage ends, you'll be entitled to an eight-month special enrollment period (SEP) to sign up for Part B without penalty.

You don't have to participate in Medicare if you don't want to. But unless you have good free or very low-cost health insurance coverage through your or your husband's former employment, it's probably a very good idea to have both Part A and B once you turn 65.

Medicare Part A can protect you against most of the enormous cost of being hospitalized, which is something that becomes more and more likely as we get older. And since you're eligible for Social Security survivors benefits, Medicare Part A is free for you, so there's no reason not to have it. .

Also - you can delay Social Security - you will just get more benefits in the future. Here is a chart from the Social Security Admin (shows the age you plan to get social security and the additional percent you will receive):

How Delayed Retirement Affects Your Social Security Benefits

If you start getting benefits at age *Multiply your Full Retirement Benefit by the percentage

66 + 1 month100.7%

66 + 2 months101.3%

66 + 3 months102.0%

66 + 4 months102.7%

66 + 5 months103.3%

66 + 6 months104.0%

66 + 7 months104.7%

66 + 8 months105.3%

66 + 9 months106.0%

66 + 10 months106.7%

66 + 11 months107.3%

67108.0%

67 + 1 month108.7%

67 + 2 months109.3%

67 + 3 months110.0%

67 + 4 months110.7%

67 + 5 months111.3%

67 + 6 months112.0%

67 + 7 months112.7%

67 + 8 months113.3%

67 + 9 months114.0%

67 + 10 months114.7%

67 + 11 months115.3%

68116.0%

68 + 1 month116.7%

68 + 2 months117.3%

68 + 3 months118.0%

68 + 4 months118.7%

68 + 5 months119.3%

68 + 6 months120.0%

68 + 7 months120.7%

68 + 8 months121.3%

68 + 9 months122.0%

68 + 10 months122.7%

68 + 11 months123.3%

69124.0%

69 + 1 month124.7%

69 + 2 months125.3%

69 + 3 months126.0%

69 + 4 months126.7%

69 + 5 months127.3%

69 + 6 months128.0%

69 + 7 months128.7%

69 + 8 months129.3%

69 + 9 months130.0%

69 + 10 months130.7%

69 + 11 months131.3%

70 or later132.0%

* If your birthday is ***** the 1st of the month, we figure your benefit as if your birthday were in the previous month.

Expert:  ABC Accounting Group replied 4 months ago.

Hope this helps. Thank you. Have a great day.

Expert:  ABC Accounting Group replied 4 months ago.

Please let me know if you have any questions. If you do not then a positive rating is appreciated so I get credit for the response.