Another popular strategy for couples is to file what is known as a "restricted application" once you reach your full retirement age. "By filing a restricted application, you are essentially telling Social Security 'pay me only my spousal Social Security benefit, not my own retirement benefit,'" said Levine.
"By utilizing this approach, you can receive at least some Social Security benefits, while still allowing your own retirement benefit to earn delayed credits until as late as age 70. At that time, you could switch over to your own, higher benefit."
But that will no longer be an option for millions of Americans.
What you can do: If you will be age 62 or older by the end of this year, you can still use the "restricted application" strategy. If you are younger than 62 at the end of 2015, you will no longer be able to just collect spousal benefits at full retirement age or later while letting your own benefit grow.
However, spouses who are already collecting benefits on their partners earnings record can continue to do so and switch to their own larger retirement benefit at a later date —up to age 70.
So here's what you should do: Explore both strategies. Talk to a qualified financial professional who can look at how Social Security fits into your overall retirement plan and help you maximize your benefits.
"If you are already properly utilizing either strategy, you will be grandfathered," Lange said. But, "it is critical for married taxpayers who qualify to take advantage of the brief remaining window to take advantage of these strategies."
Clarification: This story has been updated to reflect that, typically, one spouse would file and suspend.