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

3. Missing the Medicare application window

Plenty of seniors struggle with the confusing truth regarding when to apply for Social Security and Medicare. Some wrongly assume that the two go hand in hand but while in terms of benefits you can start claiming them before, during, or after your full retirement age, you must apply for Medicare when you turn 65.

Furthermore, your full retirement age might change in the future, which could lead to even more confusion.

So why is it important to not confuse the two and why should you absolutely not miss the enrollment period for Medicare? The reason? Late enrollment penalties, of course.

For every 12 month period you fail to sign up for Medicare coverage your Medicare Part B premiums will rise by 10%. This could lower your Social Security drastically as payments are usually taken from your benefits.

Number 4 is of premium importance if you don’t want to lose money…..

Pages: 1 2 3 4 5 6 7 8 9 10 11
« 1 ... 3 4 5 ... 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Your email address will not be published.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

  • 6 Important Changes to Social Security Benefits in 2026
  • How To Pay Your Taxes With Your Credit Card in 2022
  • 8 Ways To Avoid Retirement Poverty
  • 13 States Where Your Freedom Is Respected
  • 18 Places Where Social Security Is More Than Enough
  • 7 Ways To Budget Your Groceries in Retirement
  • 14 Retirement Cities With Awful Weather
  • 11 States With the Best/Worst Social Security Checks in 2022
  • 10 Best Senior Discounts for 2022
  • 12 States That Tax Social Security Benefits

Newsletter

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

Related Articles

8 Things Medicare Does NOT Cover Right Now

Medicare doesn’t cover routine vision care – Medicare doesn’t cover neither routine eye exams or glasses.…

Read More →

Top 10 Retirement Planning Apps You Need To Download Today

Mint Mint is a wildly popular financial tracking tool that you can download on your…

Read More →

7 Important Changes to Social Security in 2022

High earners will be paying more taxes  Social Security’s payroll tax is applied to earned…

Read More →

11 Worrying 401(K) Mistakes That Will Derail Your Retirement Plans

Invest Too Much in Company Stock On top of generous 401(k) matching contributions, companies could…

Read More →

6 Important Changes to Social Security Benefits in 2026

Change #3 Full Retirement Age Reaches 67 for Those Born in 1960 or Later What…

Read More →

9 401(k) Tips to Get More Money in Retirement

Penalty-free withdrawals when adopting or having a child You probably already know that if you…

Read More →

10 Quick Ways to Earn Some Extra Cash During Retirement

3. Running errands People are busier and busier these days, with insufficient time during the…

Read More →
Defined contribution retirement plans in the private sector

25 Tips to Boost Your 401(K) Now!

3. Save a Little Every Day You might think that unless you get a raise…

Read More →

How 8 Types of Retirement Income Get Taxed

Social Security Many retirees shudder at the mere mention of “provisional income”. That’s because this…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

  • Home
  • About Us
  • Editorial Policy
  • Advertiser Disclosure
  • FAQ
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
  • Contact

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.