Social Security $24,480 Earnings Threshold Impacts Monthly Benefits

AI Summary

Claiming Social Security before full retirement age of 67 reduces monthly benefits permanently. In 2026, exceeding an earnings limit of $24,480 triggers an earnings test, withholding $1 for every $2 earned over this amount. Medicare Part B premiums are deducted from Social Security payments, impacting higher-income enrollees through additional surcharges. It's important for individuals to assess their potential benefits ahead of retirement, as various factors can lead to smaller checks than anticipated.