Social Security and Medicare Part B

Medicare has two parts, hospital insurance and medical insurance. Medical insurance, sometimes referred to as Part B.

Medicare insurance is optional, and you must pay a premium than twill be deducted from your Social Security check. If you are not collecting Social Security payments, you will be billed quarterly for the Medicare Part B premium.

Medigap Insurance is private health insurance designed specifically to supplement Medicare's benefits by filling in the "gaps." A Medigap policy generally pays for Medicare-approved charges not paid by Medicare because of deductibles or co-insurance amounts for which you are responsible. There are 10 basic Medigap policies, each one a bit different and a bit more expensive than the last. Review your needs and the policies carefully before purchasing one. There are federal minimum standards fo reach of these policies.

Signing up for benefits is not hard, but you do need do produce certain documents so that you have proof you're who you claim to be. You can also sign up for Medicare at your Social Security office. When you are making the appointment, ask what documentation you will need to bring with you. Depending on your circumstances and what benefits you are applying for, you'll need some or all of the following documents. You will need original documents or certified copies of all documentation the SSA  requires. Do not mail these documents to Social Security! Always take them in personally, allow the employees to copy the documents, and then keep the originals. Do not leave them there; things have a way of innocently disappearing. Social Security will now allow you to apply for benefits on the internet.

You nay need the following documents when applying for benefits:

• Social Security card

• Birth certificate

• Spouse's Social Security number

• Ex-spouse's Social Security number

• Divorce documents

• Spouse's birth certificate

• Spouse's death certificate

• Marriage certificate

• Children's birth certificate

• Children's Social Security numbers

• Most recent W-2 form

• Most recent tax return if you are self-employed

• Military discharge papers

• Proof of U.S. citizenship or lawful alien status if you were not born in the United States

• The name of your bank and account number (so your benefits can be directly deposited into your account)

You can work while receiving Social Security benefits. Earnings in or after the month you reach your full retirement age won't affect your Social Security benefits. In 2001, if you choose to begin early benefits. for any amount you earn over $10,680 ($890 a month), $1 in benefits will be withheld for every $2 in earnings. This limit has not been mandated by law, so it could very well change for the future. This limit applies only to earned income that is wages or net income from self-employment (alimony is no considered earned income by the Social Security Administration). Things like pensions, interest, dividends, and capital gains do not count toward the dollar limit.