At one point in the lives of citizens in the United States there is the possibility of applying for Social Security. Despite the need to meet certain requirements to start collecting the check, it is certainly a great help. Thanks to the services of the Social Security Administration, a large number of Americans are able to pay their bills every month.
On the other hand, Medicare services are also really helpful for any American citizen. Not all medical services are included in Medicare, but the most basic services are covered. It should also be noted that there is a premium part of Medicare that happens to be a payment, so it is not free at all. Despite this, the benefits are so many that it doesn’t matter if that part is a payment. With this in mind, we can conclude that combining the monthly Social Security check and Medicare services has great advantages.
However, it is not always possible to combine these two services. The minimum age to apply for the Social Security retirement check is 62, with some exceptions. Some disabled users can apply for the check earlier, although retirement is not exactly the same. As for Medicare, it is impossible to apply for this medical service until the age of 65.
Therefore, if we are thinking of applying for Early Retirement Age and having active Medicare at the same time, we will not be able to do so. We will have to wait until we turn 65 to be able to combine these two services. This is the downside, but at that point we can start enjoying both to have a good retirement.
Can I have Social Security and Medicare at the same time?
Yes, but it is mandatory to wait until age 65, as we said before. So it may be a good idea to wait until age 65 to apply for Social Security. Not only will we have the advantage of having the pension check as Medicare at the same time, but other advantages. Such as, for example, the following.
- Our monthly Social Security check will be larger.
- We will be able to save more money by working until age 65.
- We will save more money by combining the two services.
On the other hand, there are several disadvantages.
- We will have to work more years.
- Our retirement will be later.
- In some cases, even this plan may be insufficient financially, since the Social Security check may not be very large.
Knowing this, we can now control when we can combine Medicare and Social Security and enjoy the golden years much more.