Larry, I'm now 69 and did the file and suspend with my wife getting her SS as a non-working spouse when she turned 66 in 2013. I pay my Medicare every 3 months by credit card. This year 2016, my Medicare went up because I send in the payments due to the file and suspend, as I await 70. The medicare payment went up for me and not my wife since hers is deducted for her SS payment. As I see now the CPI appears to be low for 2016 and if I wait till my April 2017 birthday (70). I would most likely get another increase on Medicare Payments. Am I ahead or should I file in Nov. to lock in the (hold harmless) amount for Medicare? I thought that I read some where that people will have to repay the difference in this years Medicare amounts. Should I go for my 70 amount or is Medicare payments a mute point?

Hi,

I think a good answer may (emphasis on may) be to start your retirement benefit as of this November. I believe that will permit you to be held harmless for next year with respect to the Medicare Part B premium increase. This will come at a permanently lower retirement benefit and you'll have wait a year to collect this year's DRCs (because you are taking your retirement benefit before you actually hit 70). I'm presuming you won't be 70 until after November. If you do reach 70 before November, you don't have to worry about this. I recommend running our software to see what you'll lose in lifetime SS benefits and then thinking through what I believe will just be temporary gains from being held harmless. I.e., my understanding is that those that are held harmless will see smaller SS COLAs down the road until they are paying the same Part B premium as those not held harmless.

My best, Larry