How Are Social Security And Medicare Related?
Social Security and Medicare are related in the fact that they are programs based for the elderly and retired. The difference between the two programs is that Social Security retirement benefits are a cash payment made to the retiree each month, based on work history, income level and age. Medicare is a senior citizen medical program that most people qualify for at the age of 65, even if they have not selected to take Social Security retirement benefits at that time. Medicare has several parts to the program. Medicare part A is a free program given to most seniors at their 65th birthday. Other Medicare coverage is optional and comes as a pay-for service product. There are never any costs associated with receiving your Social Security retirement benefits.
If I Decide Not To Retire Until 70, Must I Wait Until Then To Get Medicare?
Many people, especially those born after 1965, have already decided to wait until the age of 70 for retirement. These same people, however, will be eligible for Medicare coverage at their 65th birthday. On average, most people will receive their Medicare card in the mail about a moth or two before their qualifying birthday. At that time they can select all the coverage’s they want. People are not ever required to file for Social Security retirement benefits. They can, however, based on their age retire for full or partial benefits any time after the age of 65.
Will My Social Security Benefits Automatically Start At A Certain Age Like Medicare?
No. When you decide to retire and apply for your Social Security retirement benefits you must make the effort to apply for the benefit. You can easily apply online, call a customer service center (very hard) or go down in person to your local Social Security office and apply in person. If you do not initiate the process, you will not receive the benefits.
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- How Do I Qualify For Social Security Benefits?
- How long does it take to start receiving Social Security after I apply?
- What Are Social Security Credits?
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