The Press-Dispatch
Issue link: https://www.ifoldsflip.com/i/1301434
The Press-Dispatch Wednesday, October 21, 2020 A-7 Social Security Matters By Rusty Gloor I need guidance on Social Security and Medicare Dear Rusty: I am turning 67 in October and as of today am still employed full time. I really do not plan on re- tiring unless I am forced to. But how do I arrange my Social Security and Medical care stuff. It seems this subject is like a color, and every- one has a differ- ent color they like. Is there any way for me to fig- ure this out with help or on my own? I could really use some guidance. Signed: Perplexed. Dear Perplexed: Okay, let's look at your Social Secu- rity and your Medicare sepa- rately, because they're two to- tally independent programs. You do not need to do any- thing about Social Secu- rity until you are ready to start collecting your bene- fits. Since you have already reached your full retirement age (FR A) of 66, you are now earning Delayed Retirement Credits (DRCs) at the rate of .667 percent per month. That means that your benefit in Octo- ber, if you were to claim it then, would be 8 per- cent more than it would have been at age 66. If you continue to de- lay applying for SS benefits, you will continue to earn those DRCs up to age 70, when your ben- efit amount would be 32 per- cent more than it would have been at your FR A. The choice of when to claim your Social Security is yours to make, considering your need for the money, your health, and your expected longevity. The lon- ger you wait (up to 70) the more your benefit will be, and if you expect at least av- erage longevity (about 84 for a man your current age) then you'll get both a higher ben- efit amount and more in cu- mulative lifetime benefits by waiting to claim your Social Security. As for Medicare, if you are now covered by your employ- er's "creditable" healthcare plan, you can delay enroll- ing in Medicare until your current employer coverage ends (when you stop work- ing). "Creditable" is a group plan with more than 20 par- ticipants. If you now have "creditable" employer health- care coverage (including drug coverage) you won't be liable for a Late Enrollment Penalty for enrolling in Medicare (or a drug plan) later. If you are still working and know your creditable employer cover- age will end soon, you can en- roll for Medicare benefits to start coincident with the end of your employer coverage. Or, after you stop working, you can enroll in Medicare during a "Special Enrollment Period" (or "SEP" for those transitioning from employer coverage to Medicare cover- age). Your SEP for Medicare will last for eight months after you stop working, but you only have 63 days after the end of your employer drug coverage to enroll in a Part D prescrip- tion drug plan. The bottom line is this— you don't need to enroll in Medicare until your creditable employer healthcare coverage ends. And you don't need to apply for Social Security un- til you wish to start receiving benefits ( just don't wait be- yond 70). One final point because you were born in 1953: if you are now married and your wife is already collecting her SS, you can file a "restricted applica- tion for spouse benefits on- ly" and collect only a spouse benefit from your wife, while still allowing your own ben- efit to continue to grow until you are 70. But this option is only available to you because you were born before January 2, 1954. WILLIS CELEBRATES 88TH BIRTHDAY WITH CARD SHOWER Norma (Davis) Willis will celebrate her 88th birthday on Tuesday, Oct. 27. Norma resides at Amber Manor Care Center, but you can mail cards to: 1420 N. White River Ave, Petersburg, IN 47567 and they will be de- livered to her. Birthdays CHICKEN NOODLE OR CHILI FRIDAY Roast Beef Manhattan $ 8.99 Roast Beef Smothered in Gravy on Mashed Potatoes and Bread with Green Beans or Corn and Drink * Parmesan Baked Tilapia $ 8.99 Baked Potato, Bread and Drink * Stromboli $ 8.99 Our Own Special Stromboli Served with Grippos (Plain or BBQ), Side Salad and a Drink * CHEESY CHICKEN BROCCOLI OR CHILI Chicken and Dumplings $ 8.99 Plate of Chicken and Dumplings, Green Beans or Buttered Peas and Carrots, Baked Apples, Roll and a Drink * WEDNESDAY Boneless Pork Chop $ 8.99 Tender Pork Loin Baked with Special Spices and Parmesan Cheese served with Baked Potato, Green Beans and a Drink * *Your Choice of Regular Co† ee, Tea or Coke Product. Specials and menu items are subject to food availability from suppliers. /RandysAmericanaCafe Like us on Facebook! OCT. 21 - OCT. 27 MONDAY VEGETABLE BEEF OR CHILI Spaghetti $ 7.99 Cheesy Mozzarella Toast, Side Salad and Drink* Cheeseburger & Chili $ 8.99 Cheeseburger with a Cup of Chili, Chips and Drink* Pancakes $ 7.99 Choice of Side and Drink* CHILI Biscuits and Gravy $ 7.99 With Your Choice of Bacon or Sausage, Two Eggs and Drink* SATURDAY SPECIALS Stromboli $ 8.99 Our Own Special Stromboli Served with Grippos (Plain or BBQ), Side Salad and a Drink * daily Open for Dine-in & Carry-Out THURSDAY CHEESY POTATO OR CHILI Ham Steak $ 8.99 Thick-Sliced Ham Served with Mashed Potatoes and Gravy, Green Beans or Buttered Peas and Carrots, Roll and a Drink * Meatloaf $ 8.99 Green Beans or Buttered Peas and Carrots, Mashed Potatoes and Gravy, Roll and Drink * free PERFECT PINT CLEAR TUMBLER with $20 purchase on Saturday PERFECT PINT CLEAR TUMBLER with $20 purchase on Saturday FRESH, MADE-FROM-SCRATCH CINNAMON ROLLS FRIDAY MORNING OR $ 8.99 OR CHILI 8.99 OR CHILI FRESH, MADE-FROM-SCRATCH CINNAMON ROLLS SATURDAY MORNING Biscuits and Gravy with $20 purchase on Saturday with $20 purchase on Saturday Biscuits and Gravy with $20 purchase on Saturday TUESDAY Turkey Manhattan $ 8.99 Turkey Breast Smothered in Gravy on Mashed Potatoes and Bread with Green Beans and Drink * Polish Sausage $ 8.99 with Sauerkraut Served with Cornbread, Mashed Potatoes and Gravy, and Drink * HAM & BEANS WITH CORNBREAD OR CHILI Accepting Applications Mon-Fri 7AM-8PM Saturday 7AM-2PM 812-354-2004 yeah, it's that fast! net edition Z M www.PressDispatch.net/Subscribe The Press-Dispatch. No matter where you live. Why Vote for Susan Wheeler-Brittain for Treasurer? 1. EXPERIENCE I have served as Deputy Treasurer for more than three years, handling all aspects of the position. 2. TRUSTWORTHY I've been entrusted with funds and documents from many businesses, along with state and local government. 3. RESPECT If elected, I pledge to serve all Pike County citizens fairly and equally. After all, I work for you! After all, I work for you! Paid for by the Committee to Elect Susan Wheeler-Brittain, Marta Query, Treasurer SUSAN WHEELER-BRITTAIN PIKE COUNTY TREASURER Susan Wheeler-Brittain for Pike County Treasurer-Indiana Local help with your Medicare questions. Kyler Henry Licensed Sales Agent 812‑582‑0911, TTY 711 UHCMedicareSolutions.com Local help with your Medicare questions. Kyler Henry Licensed Sales Agent 812‑582‑0911, TTY 711 UHCMedicareSolutions.com