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Can paid insurance premiums be deducted from my earned income to avoid earning limit penalties?

Full question: At age 62 I’m going to apply for Social Security and still work part-time. I will purchase health insurance on my own. Can premiums paid be deducted from income earned to conform to earning limits to avoid penalties? Hello, Unfortunately, no. There are no strategies that can lower your earned wages to stay…

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If an individual is turning their FRA and still working to earn 40 credits, will the new credits be added into their PIA?

Full question: If a retiree is turning their FRA and they do not have all 40 credits required to receive the full benefit, can they continue to work to obtain all 40 credits? If this retiree claims at his FRA, can he continue to work and will the credits be automatically recalculated into his PIA?…

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Will earnings at ages 58 and 59 be indexed for inflation and increase the PIA?

Full question: If a 58-year-old employee of a corporation is able to increase his wages during this year and the year he is 59, will they be indexed for inflation and increase his PIA?  Hello, The Primary Insurance Amount (PIA) is based on our highest 35 years of earnings, and those up through your 59th…

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How can I check my work and earnings history?

Full question: I’m 61 and I plan on working for at least a few more years before retiring from my job and I’m still not sure when I would like to collect Social Security. However, I want to check my earning’s history and make sure it is accurate. Where can I check this information? Hello, You…

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I will turn 65 next year, but will continue working. Should I enroll in Medicare then and how much will it cost each month?

Full question: I will turn 65 on June 12,2021 and I plan on still working until I’m 70 if my health allows it. Should I stop paying my health insurance then ($600/mo.) and pick up Medicare with a supplemental plan? And if I did this, how much a month do I have to pay for…

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Will my wife’s earnings impact her eligibility to receive spousal benefits?

Full question: I just turned 69 and filed for Social Security benefits. My monthly benefit is $2,900. My wife is only 63 and she still works. Can she collect a spousal benefit and will her earnings impact this? Hi there, If you just started collecting at age 69 and your benefit is $2,900 then your…

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