I turned 71 in Aug 2022 and have submitted my application for social security benefits because I continued to work and had employer health insurance. I separated from the company in March of 2022. zi started my online application on March 17 2022 but didn't complete it. The online application told me I would lose benefits if I didn't complete it by September 18. What diez that mean. Also, zi am stuck prior to submitting my application as to when I want to start receiving benefits. The drop down list starts with benefit start dates beginning with Sept 1 2021 and says I have monthly options until Jan of 2023.. I dont what I should pick. I got a year's severance when I separated in March. If Ieave the default at Sept 2021. the month after I turned 70, how does that affect my benefit which maxed out at 70 but it is now Sept 2022.

Hi. When you start an online application, you have basically 6 months to complete and submit that application. After 6 months expire, you would have to start all over again. The importance of that fact is that there is a 6 month limit on claiming retroactive benefits. So, if you complete and submit the application you started in March 2022 timely, you can choose to start collecting your benefits as early as September 2021. However, if you fail to submit the application you started in March before the 6 month deadline expires, then you could only claim benefits retroactively for up to 6 months prior to the month you initiate your new application.

From a purely Social Security benefit perspective, there is never any advantage to waiting past the month you reach age 70 to claim your Social Security retirement benefits. Social Security retirement benefits don't get any higher if you start drawing your benefits after the month you reach age 70.

But, if you've been holding off on applying for benefits because you have a Health Savings Account (HSA), then there could be tax ramifications involved depending on your month of filing for Social Security retirement benefits. If you apply for Social Security retirement benefits at least 6 months after reaching age 65, then Part A of Medicare automatically starts 6 months prior to the month of your application. So, if your application date is March 2022, then your Part A coverage will start September 2021. However, since Part A coverage is premium free, that's not a concern for you unless you contributed to an HSA after August of 2021.

Best, Jerry