Making the decision when to claim Social Security benefits is a complicated process that requires careful consideration. While there are advantages to claiming early at age 62 or waiting until age 70 for a larger check, many individuals find that waiting until their full retirement age strikes a balance; for those born in 1960 or … Read more
At 62, you become eligible to claim Social Security benefits, but it’s worth noting that your full retirement age extends well beyond that. The general belief is that claiming Social Security earlier is logical if you are in poor health. By postponing the benefits, you receive larger monthly checks, although it takes time for these higher payments to compensate for the income you forego by not claiming immediately. If your life expectancy is limited, claiming early and obtaining as much money as possible right away might make sense.
Medicare Advantage Plans are providing more help for fragile and weak Seniors. Over 30 million Medicare patients are enrolled in Medicare Advantage, and other Medicare managed care programs (MA). And these programs are increasingly providing modest but essential non-medical services to the elderly living at home.