How to Withdraw Social Security Benefits

What do you do if you filed for Social Security and it turns out you think you made a mistake?

Easy! If it’s been only within the year since you initially filed simply fill out a form SSA-521. TO withdraw your application.

Now, you will have to pay the benefits back AND if your spouse is also receiving benefits he/she will also have to pay back those benefits.

BE ADVISED!!! If you also have Medicare, you need to tread very carefully before you automatically withdraw your Medicare benefits too. If you don’t have creditable coverage and are over 65 you will get penalized, for life, for not having Medicare Parts A and B. The penalties are steep too, my friends.

Now, you can easily keep on Medicare and withdraw your Social Security application. No big deal. You just will be billed directly from CMS for your Part B, C and/or D.

Not a big deal. But keep your eyes peeled to make sure you ARE being billed. As I always say it’s on YOU if errors are made. There is no one to hold accountable. So you will need to make sure you’re still paying your premiums.

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