Insurance Plans of America Blog
You may have heard that the social security administration is raising the retirement age. Yes, they are gradually going up little by little. It is helpful that you should know the changes Social Security made in retirement age.
What is the Retirement Age As of Now?
There are two things that your retirement age depends on:
You may have known that the traditional retirement age is 65. Yes, it is true. Sixty-five years old has been the full retirement age for many years. It is still the retirement age if you were born in 1937 or below.
What is the Full Retirement Age?
The full retirement age is when you start receiving your full SSA retirement money. You will receive less money when you are still not at the full retirement age. At 62, you can get your retirement benefits but not full, only a reduced monthly benefit. Let us say you were born in 1943 or above, and you start getting the SSA benefits at:
When Will the Retirement Age Rise?
Today, the retirement age has already been raised to 66 and gradually to 67. The retirement age goes up for every age group. There are many age groups; here are some examples:
Does Retirement Age Affect Your Medicare?
The answer is NO, and you can still get your medicare benefits even though you haven't reached your retirement age. You commonly don't have SSA to get your Medicare coverage. As you are planning to retire, Miami Gardens Medicare Coverage is the best choice you can make.
At Insurance Plans of America, we do our best to make sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (877) 752-6711 or Click Here to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!