AARP Eye Center
I know a few people who would like to retire earlier, stop work or work part-time and collect social security at 62, but the darn medicare age is 65. I know there was talk about lowering the age for medicare to 60 and I think that would be a great idea. Has there been any work on this?
Yes and many in their early sixties want to retire from demanding jobs and work part-time or who get laid off from good jobs that did include health coverage. Part-time jobs usually do not have health insurance. It is a problem. Lowering the age would help many people.
@CarolynS674392 wrote:And try searching for a comparable job with insurance in your 50s and 60s.
If you are filing for SS EARLY, there is not only a reduction in benefits because you are getting it early - there is also a provision in SS which allows the government to clawback some benefits if you make over $ 21,240 in a years.(2023 rate)
From SSA.gov How Work Affects Your Benefit
If you're younger than full retirement age, there is a limit to how much you can earn and still receive full Social Security benefits. (Less a deduction for getting it early) If you're younger than full retirement age during all of 2023, we must deduct $1 from your benefits for each $2 you earn above $21,240.
An individual health plan on the marketplace if getting a subsidy or off the exchange if you find an individual health plan that you like and can afford seems to be the only options until getting to 65 years old.
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Not now - Trust Fund is in dire shape - last Trustee Report indicated an insolvency date of 2027.
Actually, to solve the Trust Fund problem, it would be better IF the eligibility age was raised to at least 66 - 67 to correspond to FRA under SS retirement.
The alternative is to enroll in a marketplace plan and keep it going until age 65 when you are eligible for Medicare -
Medicare has cost of their own -
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