Understanding Social Security and Medicare Before Retirement

For many retirees, two of the biggest decisions involve when to claim Social Security and how Medicare works. While these programs can provide an important foundation for retirement income and healthcare coverage, the decisions surrounding them can affect taxes, monthly income, healthcare costs, and long-term retirement planning.

At Petron Retirement, many individuals and couples in Sartell, St. Cloud, Waite Park, Sauk Rapids, and throughout Central Minnesota ask questions such as:

• When should I claim Social Security?

• Should I take Social Security at age 62 or wait?

• How much of my Social Security can be taxed?

• When do I need to enroll in Medicare?

• What are Medicare Parts A, B, C, and D?

• How can Social Security and retirement income work together?

Understanding these areas before retirement may help you avoid costly mistakes.