Social Security Start/stop/restart strategy

We consider this strategy both for people already receiving benefits and for those who have not yet filed. Once you start collecting your retirement benefit, you can stop receipt provided you have attained your FRA. You can then restart receipt of retirement benefits at a later date, having earned permanent increases in your retirement amount by delaying receipt up to age 70. If you are enrolled in Medicare Part B and you start and then stop receipt of your retirement benefit, you will be billed by the Center for Medicare & Medicaid Services (CMS) for future Part B premiums since these premiums should not be deducted from your suspended retirement benefits. If you do have your Medicare Part B premiums deducted from your Social Security, then you will not earn delayed retirement credits. Not paying the premiums in a timely manner may cause you to lose your Medicare Part B coverage. Exception: if you also receive benefits as a spouse or ex-spouse, Social Security can deduct your Part B premium from that benefit amount. Make sure you send a check each month to CMS for your Medicare Part B premium if you are enrolled in Medicare Part B and the exception does not apply to you. If you already started receiving retirement benefits before your FRA, it might be beneficial to suspend them at FRA so you can earn increases up to age 70. The longer you can suspend after FRA, the more your benefit increases, recovering reductions due to early retirement. Retiring early at 62 reduces your retirement benefit to 75% of what it would be at your FRA. Suspending at FRA earns an 8% increase each year, up to 32% through age 70. 132% times 75% = 99% of what y

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