Social Security: Does Medicare Force You to Take Benefits?

Most people have Medicare premiums taken out of their Social Security checks. But can you get Medicare without Social Security?

Jun 15, 2014 at 2:10PM

Most people who enroll in Medicare have their required premiums withheld from their Social Security benefits. But if you don't get Social Security, will Medicare force you to do so in order to pay for premiums?

In the latest installment of our Social Security Q&A video series, Dan Caplinger, The Motley Fool's director of investment planning, takes a question from Janet, who wants to wait until full retirement age of 66 to get Social Security but worries that applying for Medicare at age 65 might not make that possible. Dan reassures his viewers that Medicare and Social Security are unrelated in the sense that you don't have to take one to get the other. As Dan discovers, all you have to do is to send a separate check or have your premiums taken from a bank account through an electronic funds transfer. That way, you can make the smart decision about your Social Security benefits without worrying about the impact on Medicare.

How to get even more income during retirement
Social Security plays a key role in your financial security, but it's not the only way to boost your retirement income. In our brand-new free report, our retirement experts give their insight on a simple strategy to take advantage of a little-known IRS rule that can help ensure a more comfortable retirement for you and your family. Click here to get your copy today.

Dan Caplinger and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

1 Key Step to Get Rich

Our mission at The Motley Fool is to help the world invest better. Whether that’s helping people overcome their fear of stocks all the way to offering clear and successful guidance on complicated-sounding options trades, we can help.

Feb 1, 2016 at 4:54PM

To be perfectly clear, this is not a get-rich action that my Foolish colleagues and I came up with. But we wouldn't argue with the approach.

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