Though you can get retirement benefits at 62, many people wait longer for a larger benefit.
Though Medicare and Social Security retirement benefits seem to go hand-in-hand, they're really two very separate programs. Some people apply for Medicare after they've been receiving retirement benefits for a while, and others obtain Medicare while prolonging their retirement benefits. The choice of how you want to live your life in old age is entirely up to you.
Relationship Between Medicare and Retirement
Medicare and retirement benefits are two very different benefits programs, but both provide benefits for the elderly. Medicare is the United States' government health insurance program for those age 65 and older, while retirement benefits pay a monthly sum to retired workers over age 62. Retirement benefits are meant to help supplement living expenses in old age, while Medicare is strictly a health insurance program. Typically, when you apply for retirement benefits the Social Security Administration sends you information about Medicare.
Qualifications
To obtain your Social Security retirement benefits, you must be at least 62 years old. For Medicare, you must be 65---although some people with very serious conditions may obtain Medicare at a younger age. For both benefits, you must have paid into Social Security and Medicare taxes throughout the years. Typically, if you're already receiving retirement benefits and you're at least 65 years old, you already qualify for Medicare.
When to Apply for Benefits
Your own life circumstances will help you decide when is best for you to obtain benefits. If you're going strong in your career and want to keep working, you may opt to delay your retirement benefits, since you'll actually earn "credits" that translate into a higher monthly benefit for you. If you do delay your retirement (waiting until age 70 is the maximum), the Social Security Administration recommends that you go ahead and apply for Medicare at age 65 anyways, since Medicare premiums go up if you apply later in life. However, if you have satisfactory health insurance through your employer, you may want to keep that insurance and skip Medicare altogether.
Apply
You can apply for both retirement and Medicare online (see Resources). If you want to apply for Medicare only, you have to be at least 64 and eight months old and you must not currently have Medicare coverage. To apply for retirement only, you must be at least 61 and nine months and want to start your benefits in the next four months. You'll have to enter some personal information---Social Security number, address and income information, for example---but the online application shouldn't take more than 30 minutes.
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