age to draw medicare benefits
After that, you’re coverage start date will go back (retroactively) 6 months from when you sign up. Mr. Green's 65th birthday is July 20, 2017. If he signs up for Medicare in April, May, or June, his coverage will start on July 1, 2017. Program Description. Medicare is health insurance for people 65 or older, people under 65 with certain disabilities, and people of any age with End-Stage Renal Disease (ESRD) (permanent kidney failure requiring dialysis or a kidney transplant). When people first enroll in Medicare, they have Original Medicare. Help for some low-income people . . . . . . . . . . . . 9. Signing up for Medicare . . . . . . . . . . . . . . . . . . . 10. Choices for receiving health services . . . . . . . . 15. If you have other health insurance . . . . . . . . . . 15. Social Security's full-benefit retirement age is increasing gradually because of legislation passed by Congress in 1983. Traditionally, the full benefit age was 65, and early retirement benefits were first available at age 62, with a permanent reduction to 80 percent of the full benefit amount. Currently, the full benefit age is 66 for people born in 1943-1954, and it will gradually rise to 67 for those born in 1960 or later. You sign up for Medicare Part A (Hospital Insurance) and/or Medicare Part B (Medical Insurance). You sign up during the first 3 months of your Initial Enrollment Period. Your coverage starts the first day of the month you turn 65, unless your birthday is on the first day of the month. Or you may be able to purchase a policy directly from an insurance company. You will need to find a way to maintain coverage until you turn age 65 and become eligible for Medicare. You can receive Medicare at any age if you have been receiving Social Security disability benefits for two years. Return to Social Security Q&A Tool main page >>. Submit a Question to AARP Experts. For each month past your full Social Security retirement age you put off receiving retirement benefits, your benefit will automatically increase by ⅔ of 1% per month or 8% annually. Note: if you were born on Jan. 1, you should refer to the rate of increase of the previous year. Key Points. 1  Social Security eligibility depends on your birth year. 2  Reduced benefits are available at age 62. 3  The longer you wait to begin collecting, the higher your payment will be up to age 70.  Your family members may be able to receive benefits based on your record. Social Security eligibility depends on your birth year. Reduced benefits are available at age 62. The longer you wait to begin collecting, the higher your payment will be up to age 70. Your family members may be able to receive benefits based on your record. After that, you’re coverage start date will go back (retroactively) 6 months from when you sign up. Example. Mr. Green's 65th birthday is July 20, 2017. If he signs up for Medicare in April, May, or June, his coverage will start on July 1, 2017.
65