Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

10 Mistakes That Reduce Your Social Security Payments

July 9, 2020 · Personal finance

4. Rising Medicare premiums

While the age at which you can apply for Medicare does not change, the premiums certainly might.

As mentioned earlier, since premiums are deducted from your benefits, as the costs rise, your Social Security dwindles. This could be a major concerning factor for those who will rely heavily on their benefits during their retirement.

Back in 2012 premiums for Medicare Part B cost $99.90. In 2020, however, seniors are expected to pay $144.60. Naturally, higher earners must pay more. If you and your spouse earn more than $174,000 per year then you’ll be charged between $202.40 to $491.60.

It’s best to try and figure out their costs ahead of time so that you may supplement your retirement savings in order to fill these gaps in your Social Security.

‘The early bird catches the worm’? It would seem not in the case of number 5…..

Pages: 1 2 3 4 5 6 7 8 9 10 11

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A senior man sits at a wooden table reviewing a Social Security Administration statement with a pen and notebook. Why So Few Retirees Qualify for Social Security’s Biggest Possible Monthly Check
  • A woman reviews a retirement planning calendar and binder at a sunlit wooden table near a window. Key Retirement Milestone Ages Most People Miss
  • Mature couple sitting at a wooden kitchen table reviewing a calendar and open notebook with a cup of coffee. The Average Social Security Check by Age
  • 8 Medicare Billing Errors Worth Appealing 8 Medicare Billing Errors Worth Appealing
  • An older couple reviews Medicare paperwork at their kitchen table in warm morning light. 9 Medicare Rules Around Second Opinions
  • An older woman looks over healthcare paperwork at her kitchen table under warm light, looking concerned. 7 Signs Your Medicare Advantage Plan Restricts Specialist Access
  • An older woman practices balance therapy with a physical therapist in a bright, sunlit rehabilitation room. 8 Medicare Rules for Skilled Nursing Facility Stays
  • An older couple sitting at a wooden kitchen table reviewing Medicare booklets together in warm morning light. 9 Signs You Should Compare Medicare Plans This Fall
  • An older couple in their home kitchen reviewing Medicare documents next to a CPAP medical device on the table. 7 Medicare Coverage Rules for Durable Medical Equipment
  • An older man at a wooden kitchen table reviews a long pharmacy receipt next to a prescription bottle in warm morning light. 8 Signs Your Medicare Plan's Drug Formulary Has Changed

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

An older woman practices balance therapy with a physical therapist in a bright, sunlit rehabilitation room.

8 Medicare Rules for Skilled Nursing Facility Stays

Learn the 8 essential Medicare rules for skilled nursing facility stays, including the 3-day rule,…

Read More →
An older woman at her sunlit dining table organizing paperwork and folders.

Supplemental Security Income: Do You Qualify for Extra Help?

Learn the 2026 eligibility rules, income limits, and application process for Supplemental Security Income (SSI)…

Read More →

How 8 Types of Retirement Income Get Taxed

Pensions While pensions seem to be growing out of style, we mustn’t forget that when…

Read More →

7 Essential Tips for Seniors in These Uncertain Times for Economy

4. Beware your hopes and dreams It seems that we’re never truly going to get…

Read More →

6 Differing Retirement Goals You Need to Balance Out ASAP

A senior couple walks along the beach at sunset, enjoying the security of a lasting…

Read More →
A senior man sits at a wooden table reviewing a Social Security Administration statement with a pen and notebook.

Why So Few Retirees Qualify for Social Security’s Biggest Possible Monthly Check

Learn why less than 1% of retirees qualify for the maximum $5,181 Social Security benefit…

Read More →

11 Social Security Mistakes That Could Ruin Your Retirement

4. Thinking delayed spousal benefits work like retirement benefits We agree that waiting until 70…

Read More →

10 Stimulus Check Details That Are Crucial for Social Security Recipients

Second Stimulus Payments Will Be Sent to Representative Payees Do you have a representative payee?…

Read More →

10 Most Common Questions About Drafting a Will

Should my spouse and I have a joint will or separate wills? Separate wills make…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.