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I will be 66 in January and will retire March 1, 2018. I…

I will be 66...

I will be 66 in January and will retire March 1, 2018. I signed up for Medicare when I turned 65 but did not get Part B. What do I need to do now?

Accountant's Assistant: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Please tell me more, so we can help you best.

What is my time frame to sign up for social security benefits and medicare when I retire March 1st?

Accountant's Assistant: Is there anything else the Retirement Accountant should be aware of?

I don't know.

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Answered in 14 minutes by:
10/20/2017
lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,132
Experience: Taxes, Immigration, Labor Relations
Verified

Several issues.

Regarding Medicare Part B...

As long as you are working and have your health insurance from your employer - you may choose to enroll into Part B later and will not pay any penalty.

Your SEP - special enrollment period will be 8 months after you will stop working or your health insurance terminated - whatever will be first.
Regarding your social security benefits...

You will be 66 in January - and that is your FRA - full retirement age (for those who was born between 1943 and 1954).

Full retirement age is the age at which a person may first become entitled to full or unreduced retirement benefits.

Starting with the month you reach full retirement age, the SSA will not reduce your benefits no matter how much you earn.

You may however choose to delay your benefits - and your benefits will be increased by each month you delay - up to age 70.

Let me know if that addressed your question or if you need any further help.

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Customer reply replied 9 months ago
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If you still have any doubts, need clarification - please be sure to ask.

I am here to help you with all Social Security / Tax related issues.

lev-tax
lev-tax, Tax Advisor
Category: Social Security
Satisfied Customers: 33,132
Experience: Taxes, Immigration, Labor Relations
Verified
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