Although we'd all like to have the best PPO health plan, every paycheck also included deductions (FICA?) for future health care - Medicare now.
"social security payout is reduced if one is still working.""
I don't believe they actually reduce payments, but at a certain level of other income, SS is included in your tax liability. If you only live on SS there is no tax liability.
I suggest folks who are considering early SS payout to check with the Social Security website. I'm sure things have changed since I started drawing at 62. Still, draw as soon as you can. IT'S YOUR MONEY that the Fedgov confiscated from your paychecks. Again, there is no guarantee that it will be around much longer with the insane spending to counter COVID.
The difference in taking at 62 and taking at 66 was $500.00 a month more fore me I was still working so I waited, I am really glad I did, my investments have taken a huge nose dive and the extra $500.00 a month right now was worth the wait!!