The current full retirement age is 67 years old for people attaining age 62 in 2023. (The age for Medicare eligibility remains at 65.)
See Benefits By Year Of Birth for more information.
When you’re ready to apply for retirement benefits, use our online retirement application, the quickest, easiest, and most convenient way to apply.
Certainly! As an expert in retirement planning and social security benefits, I've extensively studied and worked with the intricacies of retirement age, Medicare eligibility, and the process of applying for retirement benefits.
The statement mentions the current full retirement age (FRA) being 67 years old for individuals reaching age 62 in 2023. This FRA, set by the Social Security Administration (SSA), determines when a person can receive their full retirement benefits. It's vital to note that while 67 may be the FRA for those turning 62 in 2023, individuals can start claiming reduced benefits as early as age 62, albeit with a permanent reduction in the monthly amount.
Medicare eligibility, on the other hand, remains fixed at 65. It's a crucial distinction from the full retirement age, as Medicare provides health coverage for seniors, independent of when they start receiving Social Security benefits.
The reference to "Benefits By Year Of Birth" likely directs individuals to understand how their birth year impacts the calculation of their Social Security benefits. This is because the SSA calculates benefits based on a formula that considers factors like average lifetime earnings and the chosen age of claiming benefits.
The article's closure emphasizes the ease and convenience of applying for retirement benefits through the SSA's online retirement application. This aligns with efforts by the SSA to streamline their services, making it simpler for individuals to initiate their retirement benefit claims without the need for extensive paperwork or in-person visits.
Understanding these concepts - the full retirement age, Medicare eligibility, birth year's impact on benefits, and the process of applying for retirement benefits - is crucial for anyone planning their retirement and navigating the complexities of social security systems.
