4 Things You Should Know About Working After You Turn 65

Senior man having a headache while working on laptop computer goodluz/Shutterstock

Continuing to work past the traditional retirement age gives many the opportunity to add more money to their nest egg—and delay Social Security, which will bump up their eventual benefits check. In May, 21.9 percent of Americans ages 65 and older were working, compared with 19.5 percent in May 2020, according to a study released in June by MagnifyMoney, which analyzed U.S. Census Bureau Household Pulse Survey data.

It’s important to know how working affects your Medicare benefits, Social Security and tax situation. Here are some things to understand about staying in the workforce later in life.

You May Be Able to Delay Medicare Enrollment

If you’re still working at 65 and have access to health benefits through your employer—or your spouse’s employer—you may be able to delay enrolling in Medicare. If your company has fewer than 20 employees, you should sign up for Medicare, but if it has 20-plus employees, you may be able to put it off.