Social Security/Medicare rip off

[East Texas]

The first social security "check" distribution date is interesting if you're taking age 62 distribution and you file before you turn 62. You MUST be 62 an entire calendar month (1st through 30th/31st) AND then there is a month lag after that.

If you're born February 10th and file for social security before you turn 62, you'll get your first distribution the second Wednesday in April. The breakdown. You turn 62 in February. March will be the first month in which you are 62 the entire month. Then the one-month lag is tacked on.

As already stated - social security gets back the last payment when you die.

 

[REWahoo]

If you're born on the 3rd or later, you MUST be 62 an entire calendar month (1st through 30th/31st) AND then there is a month lag after that.

I can tell you from personal experience that if your b-day is the third of the month, the above situation can result in a lag of up to 73 days between your 62nd birthday and your first SS check...

 

[East Texas]

I can tell you from personal experience that if your b-day is the third of the month, the above situation can result in a lag of up to 73 days between your 62nd birthday and your first SS check...

So... Instead of parents trying to time the birth of their baby to coincide with the start of first grade (born before September 1st) they should be thinking longer term about how the young'un will get that first social security check earlier.

 

[gerntz]

Not only do you get paid for each month in the following month but the payment received in the month of your death (for the month you were alive) goes back to the SS admin. Since payment by check is on the way out, the little reminder about the payment for the last month of a recipients life will fade away.

I'm not sure that's right. My Dad died on a July 1. His estate kept the check that came in early July and it never went back. He never received a check in August. Unless you're saying the early July check was for June.....

 

[haha]

I'm not sure that's right. My Dad died on a July 1. His estate kept the check that came in early July and it never went back. He never received a check in August. Unless you're saying the early July check was for June.....

It was. SS checks are paid with a one month lag. If your first month to receive SS payment is June 1990, your first check will arrive in July 1990, and so on.

Ha