Should I take spousal benefits now or wait? I am 62, my husband is 85. He took his SS benefit at full retirement. I have not worked enough to receive my own benefits now or later. I still lack 5 points. I do not anticipate working in the next two years however if my husband were to die before I reach age 66 I would need to work again. Should I take the spousal benefit now while he is living and if so how would this affect both my widows benefit and medicare coverage at age 65. Some direction is most appreciated.

Hi,

Your spousal rate will be reduced if you start taking benefits before full retirement age (FRA), but that reduction wouldn't necessarily affect your survivor rate if you subsequently qualify for widow's benefits, nor would it have any effect on your Medicare coverage at age 65. If you start drawing spousal benefits now and your husband dies before you, your widow's rate would be based on your age at the time of his death. If you're already FRA at the time of his death, your widow's rate would be unreduced, but if he dies before you reach FRA your widow's rate would be reduced based on your age at the time of the conversion to widow's benefits.

You may want to consider using the maximization software available on this website to compare your filing options and determine your best strategy.

Best, Jerry