CSS Social Security & Medicare Benefits

Question 1

At what age can a US worker first begin receiving reduced Social Security retirement benefits?

Accepted Answer

62

Answer

59½

Answer

65

Answer

67

Question 2

What is the full retirement age (FRA) for workers born in 1960 or later?

Accepted Answer

67

Answer

65

Answer

66

Answer

68

Question 3

By what percentage does Social Security benefit increase for each year of delay beyond full retirement age, up to age 70?

Accepted Answer

8%

Answer

4%

Answer

6%

Answer

10%

Question 4

Which Medicare part covers inpatient hospital stays and skilled nursing facility care?

Accepted Answer

Medicare Part A

Answer

Medicare Part B

Answer

Medicare Part C

Answer

Medicare Part D

Question 5

What is the standard Medicare Part B premium for most beneficiaries in 2024?

Accepted Answer

$174.70/month

Answer

$148.50/month

Answer

$164.90/month

Answer

$199.40/month

Question 6

What is IRMAA in the context of Medicare?

Accepted Answer

Income-Related Monthly Adjustment Amount — a surcharge added to Part B and Part D premiums for higher earners

Answer

A supplemental Medicare plan sold by private insurers

Answer

The maximum out-of-pocket limit for Medicare Advantage

Answer

An acronym for the Medicare enrollment application process