My wife has been on Obamacare for two years. Interesting struggle. First year, my preparation of the 1040 Tax Return resulted in a refund from IRS of around $500. They countered with a demand for $650 from US! Their interpretation of the form involved was at odds with their own instructions, but fight them? Sent them the dough, reluctantly. Second year, my calculations showed they owed us about $600 back. They countered again, stating I made an arithmetic error, and they sent us $500! She will become eligible for Medicare in December, when she turns 65 on the 16th. Now, when one applies for Social Security Benefits, the first payment is held back until the next month after eligibility occurs. They want to hang on to our own money yet a month longer! Thus, we were shocked to get informed by S/S itself, her Medicare begins the FIRST of the month of her 65th. birthday! We rejoiced! During the two years under Obamacare, she got very little out of it, two mammograms, little doctor care, while the Government shelled out almost $15,000 to insurance companies! Her cost the first year was $93/month, this year $0. She never thought she would welcome getting older as she has the past two years! Frank
My understanding of that is that you never get that payment for the month that they hold back because they don't, at any time, pay you double and, since Social Security doesn't end until you die, if you get paid that last check at all, it will be after your dead. People get used to having one payment held back because employers often do that, but they get paid that when they leave. When you leave Social Security, you probably don't care if you get that last check.
@Frank Sanoica , that's weird. I went into the SS office twice to check on my status, I was told both times that I had to wait until I was 66 before I could receive SS. My 65th birthday is December the forth so I wonder why I must wait longer than your wife.
You can begin collecting Social Security as early as 62 or as late as age 70. The amount of your monthly benefit will differ depending on the age that you begin collecting it. See the Social Security Administration's retirement planner page. I began collecting mine at 62 because I had been diagnosed with cancer. Otherwise, I would probably have waited until I was 70.
@Ina I. Wonder Best I can come up with, is your date of birth was later than my wife's. They have changed the payout ages over the decades, requiring workers to continue their drudgery longer than in the past. IOW, whereas folks could receive maximum benefits, in the past, at age 65, that age requirement has been increased over the years. The minimum age to collect, 62, has remained the same. My wife was born 12-16-51. I am basing mmy conclusion here on the thinking that you were born later than that. Would that be so? Frank
My widows benefits I get the same time my husband got his soc sec. I get them every 4th Wednesday of the month. Always a different day but always in the 20's. This month is nice because the fourth Wednesday falls on the 23rd.
No @Frank Sanoica , I was born 12 days earlier than your wife. After thinking it over, I realize I should have said that I can't get my full SS benefits until 66. I've been on disability since I was 60, and I'm recieving 1/3 of Michael's SS benefits as a widow. Then I get my pension as well. But I can't get my full SS benefits until I am 66. I'm still wondering why your wife, who is 12 days younger than I, will get full SS benefits at 65 instead of 66. My benefits will go up about $600 when I turn 66.
@Ina I. Wonder I think we are misunderstanding one another, Ina. My wife took her S/S benefit at age 62, and will became insured under Medicare at age 65, same as everyone, on Dec. 1, even though she won't be 65 until the middle of the month. That was my point. She gets Medicare several weeks before her birthday, but upon getting S/S benefits, I had to wait a full 6 weeks after my 62nd. birthday to get the first check. Frank
I got my Medicare benefits starting April 1st and I wasn't 65 til the 18th. @Frank Sanoica if that's what you're asking.
Ok, now I understand what you are saying @Frank Sanoica. Now I'm trying to figure out what supplemental insurance I should get to cover the gap in medicare. It seems you can get suckered into paying quite a bit if your not careful.
I have always tried to understand Social Security and how it works. After reading @Frank Sanoica 's post about SS holding that first payment and @Ken Anderson 's comment - "My understanding of that is that you never get that payment for the month that they hold back because they don't, at any time, pay you double and, since Social Security doesn't end until you die, if you get paid that last check at all, it will be after your dead. People get used to having one payment held back because employers often do that, but they get paid that when they leave. When you leave Social Security, you probably don't care if you get that last check." I understand a little bit better. I received letters on buying more insurance to cover final expenses after you've died and they always note that the SS death benefit is only $255. I wonder if that is why that first SS payment is held. What was explained to me after my father died per SSA was the death benefit is only paid to the beneficiary if they are the guardian/power of attorney who cashes the check for the recipient. So unless the recipient arranges this before they die the death benefit is never issued. Humpf.
@Chrissy Cross My wife is especially pleased, as it assures her she will not have to continue on under Obamacare into the New Year!