Waiting Until 65 To Claim Social Security? 6 Things To Do Before Then

If you're planning to start claiming Social Security at 65, you've got a few important jobs to do first. Not the least of which is deciding if you really want to file early or wait until your full retirement age (FRA). Social Security is a lifelong paycheck, and small choices in the next year or two can change what lands in your bank account every month. For life.

You also need to confirm your earnings history, line up Medicare, figure out your taxes, and decide how work and spousal rules fit your retirement plan.

Decide whether 65 is the best age to claim

For anyone born in 1960 or later, the full retirement age is actually 67, not 65. If you file at 65, you're claiming 24 months early. The Social Security Administration (SSA) reduces your benefit by 5/9 of 1% per month for the first 36 months you file early, which equates to a reduction of 13.3% per month for life.

If you wait until full retirement age, you receive your full baseline benefit. Waiting past FRA earns delayed retirement credits (DRCs) that raise your benefit at roughly 8% per year until you hit age 70. So if, for example, your FRA is 67 and you decide to wait until 70 to file, you'd receive an extra 24% per month for life. This is why many people continue working or those who can bridge the income gap with savings or other income streams, choose to delay filing until they reach 70.

Before you pick a firm date, run estimates for 65, 67, and 70 in your my Social Security account or with the official quick calculators to get a better idea of how much you'd get at each age.

Fix your earnings record so every dollar you earned counts

Your monthly benefit amount is calculated from your 35 highest-earning years, adjusted for wage growth, and averaged into your averaged indexed monthly earnings (AIME). Missing or under-reported years drag that average down and therefore your benefit entitlement, too. Plus, every future cost-of-living adjustment (COLA) also rides on that lower baseline.

Log in to your my Social Security account and compare each year's posted earnings with your W-2s, 1099s, and Schedule SE. If you spot an error, gather proof and file a Request for Correction of Earnings Record with Form SSA-7008. Remember, though, that you only have 3 years, 3 months, and 15 days from the year after the wages were paid to make your request, although there are a few exceptions.

This is one of the fastest and easiest ways to lift your future benefit. Replacing just one zero or low year with the right, higher number can have a significant impact on your lifetime benefit entitlement.

Line up Medicare on time

Medicare starts at 65 even if you don't claim Social Security. Enrolling on time prevents late penalties that stick with you. Part B's late-enrollment penalty adds 10% to your premium for each full 12-month period you could have signed up but didn't, unless you qualify for a Special Enrollment Period based on active employer coverage.

Part D has its own penalty if you go 63 or more days without credible drug coverage. If you're still working for a large employer with credible coverage, you can delay Part B without penalty, but be sure to enroll promptly when that coverage ends.

Health Savings Accounts (HSAs) and Medicare don't mix. When you apply for Medicare after 65, Part A coverage is often retroactive up to six months (not earlier than your 65th birthday). To avoid tax penalties, stop HSA contributions up to six months before you file for Medicare if you'll apply 6+ months after turning 65. If you enroll right at 65, stop contributions the month before your 65th birthday.

If you plan to work at 65, know the earnings test

Because 65 is younger than full retirement age, the earnings test applies if you're still working and you claim Social Security benefits. In 2025, the SSA withholds $1 for every $2 you earn above $23,400. In the calendar year you reach FRA, the limit is $62,160, and withholding drops to $1 for every $3 above the limit, counting only the months before the month in which you reach FRA.

Starting the month you reach FRA, the test ends. Withheld checks aren't truly lost, either. Your benefit is adjusted at FRA to credit back that withholding.

If you're retiring mid-year before FRA, ask about the special first-year monthly rule. For 2025, the SSA can pay any full month you keep earnings under the monthly limit. Those limits are $1,950 if you're under full retirement age all year, and $5,180 in months before FRA if you reach it that year, even if your annual pay is above the yearly cap.

Trim taxes and Medicare surcharges before you file

Social Security itself isn't taxed by the SSA, but the IRS can tax up to 85% of your benefit. The taxable amount is based on your combined income, which is half of your Social Security plus all other income, including tax-exempt interest.

• If you're a single filer and your combined income is below $25,000, or you file jointly and it's below $32,000, none of your benefits are taxable.
• Between $25,000 and $34,000 for single filers or $32,000 and $44,000 for joint filers makes up to 50% of your benefit taxable.
• Above $34,000 for single filers or $44,000 for joint filers and up to 85% of your benefit can be taxable.

Higher incomes can also trigger Medicare's income-related monthly adjusted amount (IRMAA) surcharges for Parts B and D, which are usually deducted straight from your Social Security payment. IRMAA uses a two-year lookback, so your 2026 premiums typically reflect your 2024 tax return. If you've retired and your income has fallen, you can ask the SSA to lower or remove IRMAA using Form SSA-44, but only based on a life-changing event like divorce, marriage, or retirement.

Ahead of claiming, consider whether Roth conversions, careful timing of IRA withdrawals, or spacing capital gains before Medicare might help you avoid a higher bracket or IRMAA tier. And remember that once you start your benefits, you can request federal tax withholding so you don't end up with a big tax bill in spring.

Coordinate spousal and survivor rules

Spousal benefits can pay up to 50% of the worker's full benefit at the spouse's FRA. Filing early reduces that amount for life. Survivor benefits work differently and can be larger, which is why high earners often consider delaying their own retirement to 70 to increase the protection for a surviving spouse.

If you're set on claiming at 65, run a side-by-side estimate for both spouses and pick a timeline that maximizes the lifetime benefit for the whole household.

Bottom line

Age 65 is a big milestone, but it's no longer the full retirement age for Social Security. Before you claim, confirm your numbers, correct your earnings record, enroll in Medicare on time and pause HSA contributions the right way.

Consider whether you plan to keep working while claiming, coordinate spousal and survivor benefits, and map your taxes and Medicare surcharges so your net deposit matches your planned retirement budget and you maximize your senior benefits.