The Social Security Mentality At Age 65

January 31, 2013 1:51 PM
The Social Security Mentality At Age 65
" BOSTON (CBS) – Current thinking has 65 as the normal retirement age and that’s because at one time a worker could collect full Social Security benefits at age 65. No more. Full benefit age is now 67.

But Medicare, the health insurance for retirees starts at age 65. Even though you are not going to start your Social Security benefit, you need to sign up for Medicare a couple of months before your 65th birthday. You will also need to figure out part D, which is the prescription drug program and what Medigap insurance to buy.

Congress made some changes to Social Security benefits back in the 80s in hopes of making the reserves last longer. The retirement age to collect full Social Security benefits was changed to age 67. Congress didn’t want to impact those close to retirement so those changes are being phased in until anyone born in 1960 or later will have to be age 67 to collect their full Social Security benefits.

If you were born between 1943 and 1954 your full Social Security retirement age is 66 "

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