I started receiving widow's social security benefits, when I was 62 years old, in 2014. This July (2017) I will be 65, so my full retirement age is 66. I am suspending conversion to my own benefits until age 70 because at the time when I began collecting Social Security, my widow's benefit rate was higher than my own. Eventually, by suspending collection the accrued increases from my own benefits will surpass my widow's benefit rate. I figured that since my own rate at age 62 was less than my widow's benefit rate; and because I could not effect an increase in the widow's rate by additional work, yet in contrast (if I could find reasonable work in the interim years), I could increase my own benefit for a later conversion at age 70. I am currently seeking employment (but also facing age discrimination) so it's been difficult finding decent work.
This is my one question for you. Thank you for your assistance:
1) If I find temporary or short term (3-6 months) employment which would pay less that my 2017 annual Social Security Earnings Cap, do I have to report those earnings before next year's tax filing, since I won't know the exact total amount until the employment assignment is completed?
--- I think I may have a better chance to get work as a temp employee; and that would also mean that I definitely won't earn over the 2017 Earnings Cap; however, if I do get temp work, I don't want to prematurely report the earnings and risk having my Social Security benefits lowered before I have meet that limit. This will be my first 1/2 year of having to pay for Medicare and I won't have enough Social Security income to afford the Part B deduction or for a Medicare Advantage Plan; so I figured that I would opt out of both of them until next year's enrollment period, being the year that I will turn 66 and reach my full retirement (July 2018) whereby I will have a higher earnings Cap; and the following year (2019) I won't have an earnings limit at all, so I wouldn't have as much of an insurance deduction cost problem. The reason I am comfortable with taking the 6 month Medicare Part B, C, D waiver is because my health has been good lifetime-to-date; and I figure that I could take the odds for the better if I only have the Medicare Part A for the 2nd half of 2017, for 6 months.

Hi,

If you won't earn more than $16,920 this year, you don't need to worry about reporting your earnings to Social Security (https://www.ssa.gov/planners/retire/whileworking2.html).

You may want to reconsider your plan to defer your Part B Medicare and supplemental insurance enrollments, unless you will have group coverage under an employer group health plan. One major, or even less than major, unexpected illness or injury could be financially devastating if you don't have health insurance. Also, there are only specific enrollment periods in which you can enroll in Part B of Medicare, and supplement plans like Medicare Advantage and Part D prescription drug plan can deny coverage or charge premium rate penalties if you fail to enroll timely.

If you don't sign up for Part B of Medicare during your initial enrollment period this year, the soonest you can sign up for it would be the next general enrollment period that runs from January through March 2018. And, if you sign up then your Part B coverage will not start until July 2018. So, you would actually be forfeiting coverage for 12 months, not 6 months like you mention in your question. For more information on Medicare, refer to their website: https://www.ssa.gov/planners/retire/whileworking2.html.

Best, Jerry