What’s new for Social Security and Medicare in 2021
Earnings limits increase
Individuals who claim Social Security before full retirement age and who continue to work can earn up to $18,960 in 2021 without forfeiting any benefits, up from $18,240 this year. If they earn more than that limit, they will temporarily lose $1 in benefits for every $2 earned over $18,960. Benefits lost to excess earnings are restored in the form of larger monthly payments beginning at full retirement age.