It's official.

Posted by: steveg

It's official. - 12/26/12 08:06 AM

I am an old codger. Just applied for Medicare. eek SS a year from now.


Now... YOU KIDS GET OFF MY LAWN!!! mad


grin
Posted by: Papa

Re: It's official. - 12/26/12 09:25 AM

You young whipper-snapper.

Medicare in full force and already used. I have already gotten back what I paid this year and my B premiums are taken care of for next year all from one knee surgery.

I can file for SS benefits in 3 months.
Posted by: NucleusG4

Re: It's official. - 12/26/12 10:03 AM

You guys are lucky.. all that stuff will be used up by the time I get there.... frown
Posted by: Pirate

Re: It's official. - 12/26/12 06:15 PM

Got both SS and Medicare...hardly ever use Medicare , got VA too and that takes care of most of my medical needs
Posted by: DLC

Re: It's official. - 12/26/12 06:22 PM

Originally Posted By: steveg
I am an old codger. Just applied for Medicare. eek SS a year from now.

grin

well there goes the fiscal cliff !!! laugh
Posted by: Jim_

Re: It's official. - 12/26/12 06:50 PM

Hmm, I figured you were eligible for that years ago. Looks can be deceiving. laugh wink
Posted by: MacBozo

Re: It's official. - 12/26/12 06:55 PM

I don't even know what the eligibility age is for Medicare. As for "retiring" and receiving SS, I want to at 65, but my wife thinks I should wait until I'm 67. I've been working pretty much since I was 15 and I think 50 years is quite enough.
Posted by: steveg

Re: It's official. - 12/26/12 06:59 PM

Medicare eligibility for everyone is 65. SS for me is 66, so I've applied for the former only for now. But depending on your age, the SS threshold differs. I could retire now, but it would reduce my benefit but around $400/mo.
Posted by: steveg

Re: It's official. - 12/26/12 07:00 PM

You funnee guy. >:p
Posted by: Jim_

Re: It's official. - 12/26/12 07:15 PM

I'm here all week.
Posted by: MrB

Re: It's official. - 12/26/12 08:25 PM

For me, SS at 62. I did the math and the extra I would get ifi waited to 65 to get total would pay out if I lived to something like 75.

As for Medacare, well, have liver surgery and subsequent chemo for five months at $4800 a pop.

Dave
Posted by: DLC

Re: It's official. - 12/27/12 08:16 AM

I'd do that too but the work penalty is too low.... I can make $13,000 part time teaching ! Glad I didn't take it - this spring I'll make > 1/2 that and if I teach next fall well - I'd be hittin the limit !

IF It weren't for that - like you- I'd do it - takes 20 years to break even - anything before that and you're ahead !! Even after 20 years, the losses are small til you get between 25-30 years. Should I be SOOO lucky !! wink
Posted by: Pirate

Re: It's official. - 12/27/12 08:53 AM

But the work penalty goes away at some point in time....mine was at 67, so I went back to work part time and dont have to pay back
anything under the work penalty, not sure at what age work penalty goes away now, if there have been any changes in SS regulations in the recent past.
Posted by: DLC

Re: It's official. - 12/27/12 09:32 AM

Yes it does go away when you could have normally collected SS, BUT you would have been eligible to work then any way... I'm looking at the first 2 years for me - age 64-66... and I'd probably get near $0 anyway if I worked or < 50% of it. Thus all it would do is cut my SS income in future years. It sure would help now though... about $1800 / mo !!

IF I hadn't been contacted by 2 different Dept chairs about teaching- I'd probably go for early SS, but looks like I'll have some significant outside income until I'm 66. I may have a chance to go back full time next fall or spring 2014 !! I don't know if I want to do that, but I could probably make $55- to $60,000 doing almost what I'd do part-time (at one third the salary). eek

When I was at CDC and teaching part-time at GPC, for years I taught eight sections of microbiology: three in the spring, two in the summer, and three in the fall. For those services, I got paid about $17,000 ($2200 per section). A full-time faculty at GPC has to teach nine sections per year and makes 2.5 to 3 times the salary. frown Of course I couldn't give up CDC, because I was making a lot lot more there.