when does medicare and social security start then? Exactly?

[mistymoney]

My bday is second week of october. If I delay social security and take at 70, do I get my first check in October, or November? I had thought November 1st, but someone mentioned the checks come mid month, so I why wouldn't I get it in October?

and the year I turn 65, does medicare start in October or November?

Does the day in the month matter for these? Like born 1st -15th this happens, 16th-31st, that happens. Or only the month?

Being born in october, I am feeling quite disadvantaged already. What with the wage index stopping the year you turn 60 regardless of month, and then the irmaa configured the year you turn 63, even though my 60 and 63 will be younger than those January babies, lol! aka I'm penalized at a younger age!

But anywhooy, when did I get my first social security check, when I am 70 or 70 and 3 weeks, or what?

Need to know.....

[MDM]

My bday is second week of october. If I delay social security and take at 70, do I get my first check in October, or November? I had thought November 1st, but someone mentioned the checks come mid month, so I why wouldn't I get it in October?

Deposit for your October benefit hits your bank account sometime in November.

and the year I turn 65, does medicare start in October or November?

October.

Does the day in the month matter for these? Like born 1st -15th this happens, 16th-31st, that happens. Or only the month?

Those born on the first of the month are treated as if born in the previous month.

Being born in october, I am feeling quite disadvantaged already. What with the wage index stopping the year you turn 60 regardless of month, and then the irmaa configured the year you turn 63, even though my 60 and 63 will be younger than those January babies, lol! aka I'm penalized at a younger age!

No disadvantage, because your first year IRMAA will apply for only 3 months, as opposed to 12 months for the January birthdays.

[mistymoney]

My bday is second week of october. If I delay social security and take at 70, do I get my first check in October, or November? I had thought November 1st, but someone mentioned the checks come mid month, so I why wouldn't I get it in October?

Deposit for your October benefit hits your bank account sometime in November.

and the year I turn 65, does medicare start in October or November?

October.

Does the day in the month matter for these? Like born 1st -15th this happens, 16th-31st, that happens. Or only the month?

Those born on the first of the month are treated as if born in the previous month.

Being born in october, I am feeling quite disadvantaged already. What with the wage index stopping the year you turn 60 regardless of month, and then the irmaa configured the year you turn 63, even though my 60 and 63 will be younger than those January babies, lol! aka I'm penalized at a younger age!

No disadvantage, because your first year IRMAA will apply for only 3 months, as opposed to 12 months for the January birthdays.

Ah! so then in January - there is a new IRMAA calculated on tax returns from age 64? That makes sense.

But still frosty on the wage index adjustments :)

Thank you for the info, much appreciated!

[secondcor521]

My bday is second week of october. If I delay social security and take at 70, do I get my first check in October, or November? I had thought November 1st, but someone mentioned the checks come mid month, so I why wouldn't I get it in October?

Deposit for your October benefit hits your bank account sometime in November.

and the year I turn 65, does medicare start in October or November?

October.

Does the day in the month matter for these? Like born 1st -15th this happens, 16th-31st, that happens. Or only the month?

Those born on the first of the month are treated as if born in the previous month.

Being born in october, I am feeling quite disadvantaged already. What with the wage index stopping the year you turn 60 regardless of month, and then the irmaa configured the year you turn 63, even though my 60 and 63 will be younger than those January babies, lol! aka I'm penalized at a younger age!

No disadvantage, because your first year IRMAA will apply for only 3 months, as opposed to 12 months for the January birthdays.

Ah! so then in January - there is a new IRMAA calculated on tax returns from age 64? That makes sense.

But still frosty on the wage index adjustments :)

Thank you for the info, much appreciated!

IRMAA is usually recalculated every year based on the tax return from two years ago.

So the tax return for the year in which you turn 63 in October will be used to determine your IRMAA for the last three months of the year you turn 65.  The tax return for the year in which you turn 64 in October will be used to determine your IRMAA for the full year in which you turn 66.

(There is the notion of an IRMAA appeal on a form SSA-44 which can affect the above general pattern.)

Also, the day of the month of your birthday will determine which Wednesday of the month your SS deposit occurs.  See https://www.ssa.gov/kc/rp_paybenefits.htm.

[secondcor521]

Need to know.....

Why?

[mistymoney]

My bday is second week of october. If I delay social security and take at 70, do I get my first check in October, or November? I had thought November 1st, but someone mentioned the checks come mid month, so I why wouldn't I get it in October?

Deposit for your October benefit hits your bank account sometime in November.

and the year I turn 65, does medicare start in October or November?

October.

Does the day in the month matter for these? Like born 1st -15th this happens, 16th-31st, that happens. Or only the month?

Those born on the first of the month are treated as if born in the previous month.

Being born in october, I am feeling quite disadvantaged already. What with the wage index stopping the year you turn 60 regardless of month, and then the irmaa configured the year you turn 63, even though my 60 and 63 will be younger than those January babies, lol! aka I'm penalized at a younger age!

No disadvantage, because your first year IRMAA will apply for only 3 months, as opposed to 12 months for the January birthdays.

Ah! so then in January - there is a new IRMAA calculated on tax returns from age 64? That makes sense.

But still frosty on the wage index adjustments :)

Thank you for the info, much appreciated!

IRMAA is usually recalculated every year based on the tax return from two years ago.

So the tax return for the year in which you turn 63 in October will be used to determine your IRMAA for the last three months of the year you turn 65.  The tax return for the year in which you turn 64 in October will be used to determine your IRMAA for the full year in which you turn 66.

(There is the notion of an IRMAA appeal on a form SSA-44 which can affect the above general pattern.)

Also, the day of the month of your birthday will determine which Wednesday of the month your SS deposit occurs.  See https://www.ssa.gov/kc/rp_paybenefits.htm.

thanks! things I would never have known how to look up.

[mistymoney]

Need to know.....

Why?

I've been compiling a spreadsheet showing income sources and outgos each year, with notes like "apply for medicare in april", and then how my income needs change with soc sec, and looking at how much income in which years impact irmaa and rmds, like that.

I mean - how could someone not need to know?

[secondcor521]

Need to know.....

Why?

I've been compiling a spreadsheet showing income sources and outgos each year, with notes like "apply for medicare in april", and then how my income needs change with soc sec, and looking at how much income in which years impact irmaa and rmds, like that.

I mean - how could someone not need to know?

I used to try to do what you're describing.  I don't so much any more, for a few reasons:

1.  My predictions were not very accurate.  I might be able to get the first significant digit right, but that's about it.  For example, I plan to start SS at age 70, but that's fourteen years away and my life is not that predictable so I might claim it at FRA based on new information.

2.  I have considerable slack in my finances now.  Whether any given income or expense item shows up in June or July won't move the needle in the big scheme of things.

3.  I've been FIREd for about nine years now.  I can see how things work over time, what moves the needle, what doesn't move the needle.  My track record (and, the slack mentioned in #2), help me to think that things will work out fine with or without a detailed spreadsheet.

Even with all that, I do think there is value in doing the detailed spreadsheets as an exercise to learn about the various topics and see how it all fits together.  But after that point I have been thoroughly incapable of actually "following" a planning spreadsheet in my actual life because too many things come up that I didn't plan on, and re-doing my plan every time grew tiresome.

[Car Jack]

I retired about a year and a half ago at 66.  Some times:

Medicare:  Sign up for part A within 2 months of your birthday.  If you do this, you're set.  It's free and you can do it online.

For the other parts, of course, get your letter from HR saying you were working and covered by health insurance until whatever date.  Medicare will set up so you start the rest of it on the right date.  I think I did this about 3 months before I retired.  Also, if your income 2 years ago is above the IRMAA limit, your life change event is retiring.  Tell them you won't exceed whatever the IRMAA number is.  I turned this in with my other paperwork for Medicare ahead of time.

Nag the hell out of them after your Medicare starts.  I've done stuff online, called on the phone and in person and all of them have failed more times than gotten it right.  So yah, to get my IRMAA, I turned in the form in person, then on the phone where they can tell you that it's been put in the system and is waiting for the person to finish it, then in person again and the CSR typed something and that was that.

Rules are not rules.  Supposedly, you can only apply for IRMAA recalculation once.  I did it twice and got it both times.

Haven't done social security yet but I'm' told you can designate the month your first payment starts. 

[secondcor521]

Rules are not rules.  Supposedly, you can only apply for IRMAA recalculation once.  I did it twice and got it both times.

Whoever told you that "rule" was simply inaccurate.  You can submit an appeal any year in which it applies.

[Rob_bob]

One thing that will be confusing is that your SS check will be for the previous month but Medicare has you pay a month in advance.  So I start SS this month, from what I have read I fully expect my Medicare premium to be auto deducted from my checking account this month to pay for my March coverage.  Then when my Feb. SS check hits my account in Mar. I expect them to have deducted my March Medicare premium, so being double billed.  Then after about three months I will receive a credit for the double billing.  Try thinking about that in bed at 2 AM LOL.