"Medicare eligibility typically begins at 65, leading many older workers to delay retirement to retain health benefits until they qualify for coverage."
"Signing up for Social Security at 65 can result in a permanent reduction of monthly benefits, making it crucial to consider your financial situation."
Medicare eligibility starts at age 65, prompting many older individuals to continue working to maintain health coverage. While you can apply for Social Security at the same time, doing so at 65 leads to reduced monthly benefits since it's before your Full Retirement Age (FRA) of 67, resulting in a 13.33% cut. Therefore, it's crucial for individuals transitioning to retirement to evaluate their financial circumstances and understand the implications of early Social Security enrollment before deciding on their options.
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