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Social Security And Medicare

Social Security Benefits Increase in 2023

The following information can help you with your Social Security or Medicare benefits. My office stands ready to assist you with any problems or questions you may have. You can send an email here or call my office in Boca Raton at 998-9045.My office can also help you with determining Social Security benefits, as well as Supplemental Security Income and Medicare eligibility.

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I Want To Sign Up For Only Part A Or Both Part A & Part B

Once youre eligible to sign up for Medicare , you have 2 options:

  • Sign up to get only Medicare coverage.
  • Apply to start getting benefits from Social Security . Once youre approved to start getting benefits, youll automatically get Part A coverage. Youll choose if you want Part B coverage when you apply for benefits.
  • Once you sign up , youll get a welcome package with your Medicare card.

    State And Local Government Employees Social Security And Medicare Coverage

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  • State and local government employees may be covered for Social Security and Medicare either by mandatory coverage, or under a Section 218 Agreement between the state and the Social Security Administration. Under some circumstances, an employee may be excluded from Social Security or Medicare, or both.

    Some employers may not properly apply the terms of coverage to their employees. This leads to incorrect reporting, including non-reporting or erroneous coverage. Once incorrect reporting occurs it will often continue until the Social Security Administration or the IRS become involved typically, during claims processing or examinations and audits.

    Social Security coverage can vary widely within a state or even a local area. Don’t make an assumption about Section 218 coverage for an entity and whether it’s in compliance with all applicable laws merely because of the status of a similar entity. For Section 218 coverage questions, contact your state Social Security Administrator. For mandatory coverage questions, visit IRS.gov/fslg and the SSA.gov/slge.

    This fact sheet provides a brief summary of the coverage rules for Social Security and Medicare. For more information, follow the links in the text.

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    Can You Immediately Receive Medicare With Social Security

    For those receiving SSDI, Medicare eligibility begins after 24 months of collecting benefits. The exception is when you have end-stage renal disease or amyotrophic lateral sclerosis you immediately qualify with either condition.

    Once you receive Medicare benefits for 24 months, you must take at least Medicare Part A. If you do not, you will lose your Social Security benefits.

    Those under age 65 on disability will get benefits from Medicare Part A automatically and immediately if they have Amyotrophic Lateral Sclerosis. People otherwise on disability will receive Medicare Part A benefits after 24 months of collecting SSDI. Those who plan to obtain Social Security at 65 can have the same effective date for Medicare and Social Security.

    Everyones situation is unique. So, if you want to work after age 65, you could delay benefits depending on how many people work for your employer.

    How Do I Apply For Retirement Benefits

    How Medicare and Social Security Work Together

    To apply for retirement benefits, please visit www.ssa.gov/retire. In order to be eligible for retirement benefits, you must have enough credits have paid into Social Security and be fully insured under the Social Security system. The amount you receive depends on how much you earned when you were working. You can also delay applying for Social Security retirement. If you do so, your extra income may increase your benefit amount, and you will receive a credit. To find out more, please call the SSA at 1-800-772-1213.

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    Social Security And Medicare Basics

    For most of us, Social Security is the bedrock of retirement income. And Medicare is likely to be your primary source of health coverage. But when can you claim Social Security? And exactly what is Medicare? Understanding how and when to start taking advantage of these programs can help you maximize your benefitsand positively impact your retirement lifestyle.

    Though the two programs are separate, Social Security works closely with Medicare to enroll people who are 65 and older, provide information and collect premiums.

    Social Security Benefits: Payment Dates

    The January check next year will be based on recipients’ birth dates, according to the Social Security Administration.

    • For people whose birthday falls between the 1st to 10th of any month, their payments arrive on the second Wednesday of the month. That means the first check with the 2023 COLA will land on January 11.
    • Those with birthdays that fall between the 11th to 20th of any month will have their payments deposited or mailed on the third Wednesday of each month. Their first check with the enhanced COLA will arrive on January 18.
    • If a recipient’s birthday falls between the 21st and 31st, their payments are scheduled for the fourth Wednesday of each month. Their first 2023 COLA will arrive on January 25.

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    Social Security And Medicare Benefits

    The table below shows cash benefits and rehabilitation benefits paid from the OASI and DI Trust Funds, and benefits paid from the two Medicare Trust Funds.

    Total benefits paid from all four trust funds are available as a percentage of personal income.

    Total annual benefits paid, by type of benefitand trust fund, 1937-2021

    If A Section 218 Agreement Is In Effect: Is The Position Optionally Excluded From Coverage Under The Section 218 Agreement/modification

    Do you support cutting Medicare, social security, and VA benefits?

    A list of mandatory and optional exclusions is included in Chapter 5: “Social Security and Medicare Coverage” of Publication 963, Federal-State Reference GuidePDF.

    The optional exclusions include:

    • Agricultural labor, but only those services that would be excluded if performed for a private sector employer,
    • All services in any class or classes of elective positions,

    • Services performed by election workers and election officials paid less than the calendar year threshold amount mandated by law unless Section 218 agreement covers election workers.

    • Services in any class or classes of positions compensated solely by fees received directly from the public, by an individual who is treated by the entity as self-employed unless Section 218 agreement covers these services.
    • All services in any class or classes of part-time positions,
    • Services performed by students enrolled and regularly attending classes at the school, college or university where they are working.

    The effective date of coverage is the date specified in the Section 218 Agreement/Modification for coverage to begin.

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    Is The Employee Covered By A Section 218 Agreement Or A Modification Amending The Agreement

    Your State Social Security Administrator is responsible for determining whether a position occupied by a particular government employee is covered by a Section 218 Agreement. Contact that office if you are uncertain whether you have a Section 218 Agreement or have questions about coverage for particular positions. You can identify your state Social Security Administrator at the National Conference of State Administrators website.

    What Does Medicare Part B Cover

    Medicare Part B covers doctors visits, lab tests, and coverage for orthopedic, cardiology, radiology, and other specialists from A to Zincluding inpatient and outpatient mental health care. Screening for common medical conditions, annual wellness checks, vaccinations, and second opinions about a medical issue are also covered by Part B. In general, Part A and Part B cover 80% of Medicare-approved services. You would be responsible for the remaining 20%.

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    How Do I Apply For Disability Benefits

    To apply for disability benefits, please visit www.ssa.gov/applyfordisability. In order to be approved for disability benefits, you must prove the following:

    • You are unable to perform work that you were able to do before, and your disability must be expected to last 12 months or result in death
    • You cannot adjust to other work because of a medical condition

    If you do receive disability benefits, they wont begin until the sixth full month after the date the SSA decides the disability began. In addition, you must wait two years before you qualify for Medicare coverage.

    Spouses And Social Security Retirement Benefits

    Is Social Security The Same As Medicare

    Your spouse can also claim up to 50 percent of your benefit amount if they dont have enough work credits, or if youre the higher earner. This doesnt take away from your benefit amount. For example, say you have a retirement benefit amount of $1,500 and your spouse has never worked. You can receive your monthly $1,500 and your spouse can receive up to $750. This means your household will get $2,250 each month.

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    Does Social Security Pay For Medicare

    Social Security does not pay for Medicare, but if you receive Social Security payments, your Part B premiums can be deducted from your check. This means that instead of $1,500, for example, youll receive $1,386.40 and your Part B premium will be paid.

    Now lets take a look at Medicare and Social Security to understand what these important benefit programs are, how you qualify, and what they mean for you.

    How Do I Apply For Supplemental Security Income

    SSI is an income assistance program administered by the SSA for people who are elderly , blind, or disabled or whose income follows these guidelines: . For the most current information on SSI requirements, please call the SSA at 1-800-772-1213 or visit . You can generally expect an answer on whether you are eligible for SSI within two to six months.

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    Can You Change How You Pay For Medicare

    If you have Social Security benefits, your Part B premiums will be automatically deducted from them. If you dont qualify for Social Security benefits, youll get a bill from Medicare that youll need to pay via:

    • Your online Medicare account
    • Medicare Easy Pay, a tool that lets you automatically transfer monthly payments
    • Online bill pay through your bank account
    • Check, money order, or credit card payment

    If you are having trouble paying your bill, you can contact someone at Medicare for help.

    Medicare Advantage and Part D premiums arent automatically deducted from your Social Security benefits, so youll typically receive a bill and pay the insurer directly. If youd prefer to have your premiums for these plans deducted from your benefits check, you can contact your insurer to request this change.

    How Higher Benefits Could Cost You

    Will the bump in Social Security benefits be enough to offset inflation?

    As your Social Security income goes up with the 8.7% COLA, that may also push your into a different IRMAA or tax bracket, Freitag noted.

    That calls for careful monitoring of your income, he said.

    Keep in mind that two years in the future you may get exposed to IRMAA issues if you’re not careful.

    In addition, more of your Social Security benefits may be subject to income taxes. Up to 85% of Social Security income may be taxed based on a unique formula that also factors in other income.

    It is a good idea to have taxes withheld from Social Security benefits in order to avoid a tax liability when you file your income tax returns, according to Marc Kiner, a CPA and co-founder of Premier Social Security Consulting.

    “Do it as soon as you can,” Kiner said of filling out the voluntary withholding request form.

    To better gauge how IRMAA or taxes on benefits may affect you going forward, it may help to consult a tax advisor or CPA who can help identify tax-efficient strategies, Freitag said.

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    Ways To Apply For Disability Benefits:

    • If you or your spouse worked for a railroad, call the Railroad Retirement Board at 1-877-772-5772.

    Once your disability benefits start, well mail you a welcome package with your Medicare card.

    Sign up for Part B if you live in Puerto Rico or outside the U.S.You get Part A automatically. If you want Part B, you need to sign up for it. If you dont sign up for Part B within 3 months after your Part A starts, you might have to wait to sign up for Part B and pay a monthly late enrollment penalty.

    What Does Medicare Cover

    Medicare helps pay for certain health care services and durable medical equipment. To have full Medicare coverage, Medicare beneficiaries must have Part A and Part B .

    The following is a partial list of Medicare-covered services. The covered services listed below may require payment of deductibles and Co-Payments.

    If you have questions about covered services, call Medicare at 1-800-633-4227.

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    What Are The Differences Between Medicare And Social Security

    When you retire or go on disability, you receive a Social Security Income or Social Security Disability Income check each month if you qualify. The Social Security Administration will determine Medicare eligibility and handle some of Medicares administrative work, like enrollment.

    While these programs serve different purposes, both programs are funded through payroll taxes, provide benefits to those eligible, and help people with certain disabilities. Although they are different programs, the National Committee to preserve Social Security and Medicare help to protect both programs.

    Why Should I Wait

    The A

    You can take your Social Security benefits early or when you reach retirement age. You can also delay benefits.5 Whether you’re still working or have budgeted enough to live without Social Security benefits, you may be on the plus side when it comes to your monthly payout.

    If your full retirement age is 66 or older, check out this chart, opens new window to see how delaying retirementeven just by several monthscould affect your Social Security benefits to your advantage.

    You can also use this retirement benefits planner, opens new window to determine the best time to access your Social Security benefits.

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    Am I Eligible For Medicare

    To receive Medicare, you must be eligible for Social Security benefits.

    Part A Eligibility

    Most people age 65 or older are eligible for Medicare Part A based on their own employment, or their spouse’s employment. Most people have enough Social Security credits to get Part A for free. Others must purchase it.

    You are eligible for Medicare Part A if you meet one of the following criteria:

    • You are eligible for Social Security or Railroad Retirement benefits, even if you do not receive those benefits.
    • You are entitled to Social Security benefits based on a spouse’s, or divorced spouse’s work record, and that spouse is at least 62 years old.
    • You have worked long enough in a federal, state, or local government job to be eligible for Medicare.

    If you are under 65, you are eligible for Medicare Part A if you meet one of the following criteria:

    • You have received Social Security disability benefits for 24 months.
    • You have received Social Security benefits as a disabled widow, divorced disabled widow, or a disabled child for 24 months.
    • You have worked long enough in a federal, state, or local government job and meet the requirements of the Social Security disability program.
    • You have permanent kidney failure that requires maintenance dialysis or a kidney transplant.
    • You are diagnosed with ALS or Lou Gehrig’s disease.

    Part B Eligibility

    If you are eligible for Part A, you can enroll in Medicare Part B which has a monthly premium.

    Will I Need To Prove My Age?

    Automatic Enrollment

    How Do I Enroll In Medicare

    Administration at 1-800-772-1213 to enroll in Medicare or to ask questions about whether you are eligible. You can also visit their web site at www.socialsecurity.gov.

    The Medicare.gov Web site also has a tool to help you determine if you are eligibile for Medicare and when you can enroll. It is called the Medicare Eligibility Tool.

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    Do You Automatically Get Medicare With Social Security

    Most people who receive Medicare also receive Social Security benefits, and vice versa. If youre receiving Social Security benefits when you turn 65, youll be automatically enrolled in Medicare Parts A and B, and benefits will start on the first day of your 65th birthday month. If youre not receiving Social Security benefits, youll need to during your initial enrollment period. This includes the three months before your 65th birthday month, your 65th birthday month and the three months after.

    What Are The 2023 Income Adjustments For Medicare Part D

    Huge jump in Social Security payments expected on Thursday

    If you receive Medicare Part D for prescription drug coverage which received a massive boost this year from the passage of the Inflation Reduction Act and earn more than a certain amount, youll need to pay extra monthly. The adjustment amounts for each income tier havent changed much at all from 2022, but the income brackets themselves all rose about 6%.

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    If You Already Receive Benefits From Social Security:

    If you already get benefits from Social Security or the Railroad Retirement Board, you are automatically entitled to Medicare Part A and Part B starting the first day of the month you turn age 65. You will not need to do anything to enroll. Your Medicare card will be mailed to you about 3 months before your 65th birthday. If your 65th birthday is February 20, 2010, your Medicare effective date would be February 1, 2010.

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