SS_Medicare_flipbook_2017 - page 11

“Do Over” or “Reset”
If you regret taking a permanently reduced Social Security
benefit before reaching full retirement age, you can apply
to withdraw benefits within 12 months of making the
original claim for benefits. However, you must repay all
benefits you and your spouse have received. This option
is available only once in your lifetime.
The “do over” strategy was not changed by the Bipartisan
Budget Act of 2015.
“Start, Stop, Restart”
If you have already started receiving benefits and
would prefer to stop them in order to receive higher
benefits later, you can ask Social Security to suspend
future benefits and restart them at a later date. To
request this action, you must have reached full
retirement age.
Keep in mind that your spouse cannot receive spousal
benefits during the time when your benefits are suspended.
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