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Learning the ropes of retirement

Im now 64,5 and according to SS website can claim retirement there. It will be minimal, but I can make it work. The difference between now and age 66 is $33, so not really a valid reason to wait. I want to continue to work part time. I don't make a lot, but again, I can make it work.

 

My questions:

 

Can I still qualify  for medicaid rather than medicare, since I make very little money?

Will my food-stamps in any way be in danger? Because they are one of the reasons I can make things work.

How much can I make working part time, on top of retirement each month?

I have tried  to find information and I will take links instead of answers, Im not lazy, just clueless.

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You need to go to the Social Security web site and create an account. Be sure to read the FAQs.

The United States Social Security Administration (ssa.gov)

 

Have you checked the Medicare web site?

Medicare.gov: the official U.S. government site for Medicare | Medicare

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@GinetteM869196 wrote:

Im now 64,5 and according to SS website can claim retirement there. It will be minimal, but I can make it work. The difference between now and age 66 is $33, so not really a valid reason to wait. I want to continue to work part time. I don't make a lot, but again, I can make it work.

 

My questions:

 

Can I still qualify  for medicaid rather than medicare, since I make very little money?

Will my food-stamps in any way be in danger? Because they are one of the reasons I can make things work.

How much can I make working part time, on top of retirement each month?



Answers:  All these answers are based on the classification of elderly - which is 65; or being declared disable by government at any age.  Each has income limits and all income counts.

 

You have to go on Medicare when you turn 65 as long as you have worked long enough to qualify for free Part A ; everybody has to pay for Part B unless you can qualify for that part of Extra Help and then the government covers it.  Same thing for Part D - prescription drug coverage - you pay for it unless you can qualify for that part of Extra Help.  The Medicare.gov link below will explain the different programs.

Medicare - Medicaid:  Depending on your income when you turn 65 and go on Medicare, there could be some help.  Here are the links ~

Medicare.gov - Get Help Paying Cost 

Follow the links on the left side of the page for more details - depending upon your income, you could qualify for some and not others.

Social Security also gives some info on help with prescription drugs:

SSA.gov - Understanding the Extra Help With Your Medicare Prescription Drug Plan - 2020 EDITION 

Thought I would also give you this link  - some people go in and out of these extra help programs - this just explains how it works - depending on your income from year to year - it may apply.

Medicare.gov - What to do if you no longer automatically qualify for Extra Help with Medicare prescr... 

 

As far as Food Stamps (SNAP) - the income limit is issued by your state.

USDA - SNAP - Special Rules for the Elderly or Disabled  

 

These are links from SSA.gov - explaining retirement, working after retirement especially if under full retirement age.

SSA.gov - When to Start Receiving Retirement Benefit - 2020 Edition 

 

SSA.gov - Benefits Planner - Retirement - Receiving Benefits While Working 

Again, the links on the left side of the page goes into more detail on each category. 

While working, you will still pay into the SS system so your benefit may increase some depending upon how long you work and how much you make.

The income earnings amount changes a little each year.

 

Good Luck -

 

 

 

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