Social Security Benefits Social Security is an insurance program. Workers pay into the program, typically through payroll withholding where they work. Workers who have paid into the Social Security system for at least 10 years become eligible for early retirement benefits at age 62. However, they will receive a higher monthly benefit if they wait until their "full retirement age" (67 for anyone born in 1960 or later, for example) and an even higher one if they wait as late as age 70, at which point their benefit maxes out. Workers can get a projection of their benefits at different retirement ages using the SSA Retirement Estimator. Continue reading from Social Security Administration
The federal health insurance program for people who are 65 or older, certain younger people with disabilities, people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD). The different parts of Medicare help cover specific services. Medicare Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. Medicare Part B covers certain doctors' services, outpatient care, medical supplies, and preventive services. Medicare Part D helps cover the cost of prescription drugs (including many recommended shots or vaccines). Continue reading from Medicare
