Do You Really Need Medicare and FEHB as a Federal Employee?

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[@mr.makethatmakesense4976]

This guy is a national treasure. I hope he's still around when I retire, given I'm 43 & most likely older than him 🤞 he will be, unless he retires early.

[@PlanYourFederalBenefits]

Thank you for watching and I'm glad you find the information helpful!

[@robinhilliard8239]

My husband and I retired a few years ago (Va), but had Medicare Part B just because we though we might need it, and didn't know, like so many USGov retirees. The best info was a Fed employees retiree guide whuch very clearly showed that the Federal health insurance covered what Medicare Part B covered. given was from Richmond (capitol) w

[@faustogonzalez8397]

I always enjoy viewing your videos, your enthusiasm, knowledge and clarity is exceptional. Keep up the Great Work !!!

[@jeannamajorowicz9342]

You are amazing! I’ve talked to 2 free retirement planners and realized they both had their own incentives. You offer excellent advice with no ulterior motives except maybe to hire your company, but the advice you give isn’t only for that option. I love you!

[@ryancook5063]

A perfect summary. Thank you!

[@PlanYourFederalBenefits]

My pleasure!

[@hitesj]

Thanks for sharing it 😊 keep up the good work

[@playingwithmytrains5440]

Great video. Very informative. Thanks for sharing. I am 3 to 4 years out from retirement and am trying to be proactive with my choices.

[@PlanYourFederalBenefits]

Glad it was helpful!

[@daviddoyle8883]

Great information I definitely appreciate it fixing to retire and will definitely make those changes to my insurance coverage before I retire thanks dalan haws I appreciate everything that you do for everyone

[@PlanYourFederalBenefits]

Our pleasure, Have a great day!

[@spmrosepi1]

It's a shameful mess our medical insurance costs are high. I know it's cheaper than most but our retirements are low also. Most of my pension will go to heath insurance with part B added. BCBS basic is now around $500 monthly them another cost added for part B .. We ended up with 2 grand children so must keep family plan in retirement. Really hurts. Shame!

[@griam7641]

Great info thanks!

[@hmoobs1]

Thank you. Great information

[@PlanYourFederalBenefits]

Glad it was helpful!

[@markdaniels7724]

Blue Cross Basic will also reimburse you $800 per year ($1600 for a couple) if you take Medicare B. Me and my wife have Basic + Medicare A&B. The only out of pocket expense is drug co-pays. Every doctor and hospital we have looked at takes it. So far we are very happy with this setup.

[@cmadison7591]

I have basic also...Did you have to sign up with a specific company or just sign up for Medicare part A and B...I want to try what you've had success with to see if it works for me, but all the info on tv and coming in mail is confusing. Medicare was no help, just told me to sign up on SS website. I have not started taking SS yet.

[@markdaniels7724]

I signed up with Medicare A&B and continued Blue Cross Basic in Retirement. You then file with Blue Cross for the rebate. My wife and I get $132 total into our checking account each month from Blue Cross. It’s a little pricey but the $1600 annual rebate helps. You might pay a little more this way but you never have to worry about a surprise medical bill. We pay 0 whenever we go to a Dr, hospital, ER or walk in clinic. Just drug co-pays but you’re entitled to the mail-out pharmacy.

[@cmadison7591]

@@markdaniels7724 did you ever have issues with a Dr or specialist not taking your insurance/medicare?

[@kevinrees698]

@@cmadison7591 "Regular Medicare part A&B" doesn't advertise on TV and is not with a specific company. Those TV ads are for "Medicare Advantage" plans, also known as "Medicare Part C". The video explained that you don't need to look at part C if you have FEHB. But the companies/agents who sign people up for part C get paid a commission. Obviously, it is a big business, just judging by the amount being spent on commercials.

[@oldkoot5828]

Id like to know if there are any advantages with sticking to BCBS Standard with Medicare parts A and B.

[@klavishavideos]

Very informative. Regarding keeping your FEHB coverage along with Medicare A & B, I absolutely agree that this is a smart strategy. When my husband was under long-term treatment Medicare and our federal BCBS plan paid virtually everything. Our BCBS coverage supplemented everything Part B did not cover completely; we hardly ever received a bill. Our out-of-pocket expenses were only minor copays for some of his drugs. We paid high Part B premiums and the BCBS premiums, but it was worth it for the peace of mind.

[@PlanYourFederalBenefits]

Thanks for sharing Alison!

[@stringbeans8]

Thank you for sharing,I think real life situation really moves the needle

[@denniswarren5871]

BCBS Federal is an expensive supplemental to Medicare.

[@tr522]

Very informative. Thank you

[@PlanYourFederalBenefits]

Glad it was helpful! gd

[@ralphz3849]

My main issue is that some doctors refuse to accept patients with Medicare. So it limits the type of care you can get.

[@jimlima224]

Yes. Few doctors accept it in my area. They are now booking appointments for April

[@nobolt7]

@@jimlima224 I wonder if you have your FEHB with medicare if they will accept it?

[@jimlima224]

@@nobolt7 my understanding is the doctor will not bill medicare which the primary payer

[@Birtee229]

@Ari GSD Nooo. Many doctors limit how many Medicare patients they have because Medicare reimbursement is low and slow. I have made the phone calls trying to get my parents a new doctor. I can be really hard. Some doctors especially in low income areas have a business model where Medicare patients are their only source of business.

[@sharonkincaid6565]

Yup we have a giant county in Oregon that won’t accept Medicare primary patients 😭

[@fidelsantillan1470]

Good stuff thank you.

[@PlanYourFederalBenefits]

You welcome! Have a great day!

[@pappabear8291]

BCBS basic is the best insurance so far for me. Adding Med B will be a perfect mix. Thanks for the advice!

[@PlanYourFederalBenefits]

Great to hear, Have a great day!

[@richardrivera9061]

And A it’s free

[@JuanMartinez-kn2qs]

Again, taught me something new

[@Psuedo-Nim]

Why pay for duplicative insurance? You could just save and invest. Thats wasting 4K a year, plus of those future earnings. Maximum out of pocket is 13k. 3 years of avoiding Part B, and I have that covered. The FEP Basic credit is only 1600. So that's over $2400 still lost..and they could get rid of that any time.

[@houstoncasemanagers]

Is your BC monthly premium around $333? Trying to compare cost of BC in retirement compared to a Medicare supplement which retirement BC is essentially acting as.

[@priola7587]

I looked up the Part B income rates and was relieved to see those higher premiums won’t likely apply to my situation. Maybe second tier after 70. Thanks for making me aware of this. I turned 65 last July and retire end of ‘22, then plan to add Part B. BCBS chips in about $800/year for part B premiums if my FEHB plan is BCBS Basic, so I just dropped down from Standard to Basic during open season. Thanks for the videos. This was an intimidating topic for me as I started to approach Medicare age in 2021.

[@PlanYourFederalBenefits]

Glad it was helpful! Have a great day!

[@Kdthefamous16]

I'm. On. Medicaid

[@oldkoot5828]

Did you learn of any advatages if you stuck to BCBS Standard?

[@priola7587]

@@oldkoot5828 the two are probably going to change a bit every year/open season. The thing I just discovered, having recently retired end of last month, and applied for part b, is that Medicare is basing my part B monthly cost on IRS records of my income pre-retirement. I have an appointment next week to discuss needed forms to submit showing i have retired and my income has changed. (They sent me a determination letter and I have a 60 day time frame from receipt of their letter to appeal it). It's not that big a deal, but there is an effort to be made initially.

[@PA-fi8ev]

​@priola7587 what was the outcome of your appeal? How did you arrange for a meeting, was it with social security people? We are in the same boat, and will have to pay 2nd tier premium and again in 2026 due to lump sum payment of annual leave this year.

[@rusty9092]

Please note that if you are currently on social security prior to 65 you will automatically be enrolled in Part A and Part B when you turn 65 unless you opt out.

[@melenciolinga8107]

Great video.

[@PlanYourFederalBenefits]

Thanks for being part of the community!

[@gingerhemingway2496]

I chose to not buy into Medicare part B. Now it would cost me 60% more. So I am accepting that I will probably not have Medicare Part b. I did not know or understand I could have put my Medicare part B on hold. That was not mentioned here. Very good info. Clearly laid out.

[@PlanYourFederalBenefits]

Glad it was helpful!

[@s.c.6367]

The beast. You got that right.

[@TES-bt8sv]

It's a gamble, yet I am keeping my FEHB. I may consider 'suspending' it until I get a little older. I recently experienced my parents, in their 80's needing extensive medical treatment and the costs were astounding, yet luckily they had kept their FEHB.

[@kaykhen9853]

Best videos on all the topic. Thankful for your help. I am a civilian federal employee , planning to retire third week of march 2024. I plan get Part B. I am not clear if I have to pay Medicare part B premium at my higher salary level for 2 years after retirement ?

[@NANCO1999]

This decision is 10 years away for me. A lot could change by then. Wasnt planning on getting Medicare B and just keeping FEBH. At the rate Medicare B premiums keep going up it might not be affordable to keep both.

[@PlanYourFederalBenefits]

Good point, Have a great day!

[@Gwen-joyful-light]

NANCO, I am thinking about skipping part B as well and just taking Medicare part A and keeping my Fed BCBS as well. I only have myself to cover BCBS will be $150 per month but Medicare pt B right now is $170, I retire in two years. I started at DHS at 51 years old 14 years ago but dropped my bcbs because I was covered by my husband's insurance, I got reinstated and have 2 more years to reach 5 years vested I'll be 67 years old that's when I'll retire.

[@NANCO1999]

@@Gwen-joyful-light If I go with just fehb I will go with most comprehensive plan which costs more like 300 a month.

[@user-ps1gr5rx3e]

Something for you to also consider is to contribute to an HSA. I turn 65 this year and wish that I had an HSA account to help cover part B premiums. HSA accounts grow tax free and you can withdraw funds tax free to pay part B premiums. Smart of you to plan ahead.

[@edmundfong7288]

Great video on difficult topic. When you discuss "suspending" FEHB near the end, I noticed you did not refer to that option as picking Medicare Part C--the Advantage Plan where reimbursement of Part B premium is most probable by an HMO like Kaiser. (And I think Kaiser has the same BlueS/BlueC quirk of not reimbursing at the Standard/Bronze level you identified.) According to my research (only 60 year old now), Advantage Plans are great for additional, non Traditional benefits like gym memberships, rides to your medical appointments, but the plans COST more, and not available in all parts of the country. In another video, you suggest Part C does not apply because the combination of FEHB and Part B is superior. I hope you will clarify this depends on the provider like Kaiser. I hope you will also clarify there is a difference between "suspending" and terminating FEHB. Finally, you do admit that the FEHB providers expect Part B to by primary. I would suggest the government would prefer us to be Part C as the government would no longer be secondary, i.e no longer need for coordination of benefits. Of course, IRMAA makes this a difficult topic.

[@PlanYourFederalBenefits]

There will certainly be more videos on this topic in the future :)

[@Citsatpans]

Good information, but it irks me that we have these complex rules over universal health care.

[@eddenoy321]

Best comment here !

[@qq1651]

How do you and who coordinates the reimbursement of Medicare part B premium under BCBS basic? And does all of this information apply for retires of TSA? thanks! Great video!

[@jamesjackson3463]

Great video. I am almost in paralysis by analysis as I approach 65. In addition to the variables you mention I am in the situation where my wife does not turn 65 until 3 yrs after me so I would still want to keep my higher (standard) BCBS even if I added part B. My quick calculation tells me Medicare Part B would cost my wife & I upwards of $4500/yr over and above our BCBS premium. On average, our out of pocket expenses are $1500/yr so on the surface it looks like it would cost us $4500 to save $1500, not a good deal. You mention that as you age insurance companies might change what they cover. Although that might be true it wouldn't be based on your age since these same FEHB plans have to cover employees in their 20s.

[@susan6336]

Curious if you’ve considered BCBS basic plan? My husband and I are making these decisions currently and have decided the Basic plan works for us, as it always has. We’ve never had issues finding good doctors in network and the premium for the basic plan is substantially less.

[@jamesjackson3463]

@@susan6336 I did but since my wife doesn't turn 65 for 3 more years I might wait til then to switch

[@kevinrees698]

Regarding your thought that "Although that might be true it wouldn't be based on your age since these same FEHB plans have to cover employees in their 20s." How could a smart insurance company that was trying to save money approach this "problem"? What if they significantly reduce coverage for things like hip and knee replacement? It isn't an "age thing" right? I'll bet they can find some ways to reduce their exposure to age-related bills/treatment if they put their minds to it.

[@user-ps1gr5rx3e]

@@kevinrees698 I turn 65 this year and I thought the same thing. BCBS uses this pitch to retain policy holders for a very good reason. It's highly profitable to charge for the same coverage and only be the secondary insurance. Very smart actuaries at BCBS ! I'm leaning towards BCBS basic + plan B.

[@artvandelay1555]

I believe that Kaiser will reimburse the cost of part B IF it is an advantage plan which i do not want to enroll in. I will double check on this. Do you know anything on this caveat? Your explanation is very good. I will retire in a few months with FEHB Kaiser and am trying to decide weather to enroll in part B. You make a good case to do so. A local counselor who helps Fed employees retire says emphatically that part B is not necessary since my coverage as FEHB is good. I wonder how much the premiums can be raised on me through the FEHB system once i am in retirement if any? Thanks for any extra advice.

[@janetreiner1502]

Informative video as always. I'm in the process of Roth conversions so my income will subject me to higher medicare premiums (IRMAA) when I apply for Medicare in 2022. Can I minimize higher premium by signing up by 7th month vs. earlier in the year?

[@kevinrees698]

I am doing Roth conversions as well, and my wife will start Medicare next year. I have decided to just try and stay in the "second tier" of IRMAA (less than ~$250K for 2022 tax return). That will cost us an extra $70 a month for her, which isn't too bad. Once I hit 65 we'll try and stay under the IRMAA limit (which should be somewhere around $210K for tax year 2023). The premium is per month, so the longer you wait (in the penalty free period) the less you will pay. I am assuming that you know your 2022 IRMAA costs will be based on your 2020 tax return...

[@nobolt7]

Do you know why we need Medicare if we have FEHB, I understand the benefit of it but anyone know why FEHB cannot just continue as when full time working? Thank you very much for all your great information I really appreciate it!

[@DoctorSmartyPants]

My understanding is that it's possible the medicare B or medicare advantage plan may save you money when you compare plans (FEHB vs Med Part B) side by side...covered services versus deductibles versus choice of providers, etc. Keep in mind, the gov will only cover up to certain amount on fehb premium, as per OPM guidelines. So for me example, OPM guidelines will pay my current fehb plan in full and so if I happy with coverage going into retirement, there is no reason to add or replace with Part B.

[@defyned]

If you're age 65 and still working for the feds and have FEHB, you don't have to enroll in Medicare A until you retire, correct?

[@michaelballash5309]

Retired from the mil and use Tricare, I have 5 hrs left in my second career with the government. Should I stay with Tricare or enroll in fed medical plan?

[@Newbill17]

You guys look like an interesting group. I tried to send a question and don’t know what happened, it disappeared. I’m already retired, good income, debt free and just need limited advice on this FEHB/Medicare Pt. B, and have questions about other options mainly dental plans which I don’t have now. I will keep BCBS FEP and add Pt. B when I turn 65 in a year and a half. So my questions would mainly just be about details on that part of the equation. So roughly what would a consult price look like for something like that. And how long would it last?

[@PlanYourFederalBenefits]

Hey William, You can make an appointment here: hawsfederaladvisors.com/work-with-us/ Have a great day!

[@allisondavis8921]

What about the issue with a lot of doctors not accepting Medicare patients? If I go on Medicare B then they are my primary and that would be an issue. Also how can Blue Cross change the coverage given to me just because I am of Medicare age? They either cover it or they do not! I find your information very helpful I am just wondering because I am a few years a way from this decision. In addition my health care is costing me $680.47 per month in retirement so if I add $170 for my self and then for my spouse I am up to $1,020.47 per month. Not including the dental and vision which is about another $140 per month. My research so far shows that Blue Cross pays for everything that Medicare B does except for possible a prosthetic. I was not really considering that I was taking to much of a gamble but it sounds like I might be. One thing is for sure! You are right! I like my health coverage just the way it is right now!!

[@robertlee4767]

Does cigna have a reimbursement program ??? I've been with them for 10 years plus

[@chegui2505]

How It works when you get disabled by USPS federal employment and get disability by Social security at 55 ???

[@6.5x55]

What about doing an Advantage plan as a test and suspend FEHB for a few years. If it doesn't work out you can go back.

[@Tkh21209]

Do you have a video for FEHB vs HIGH DEDUCTIBLE PLANS?

[@PlanYourFederalBenefits]

Not right now, but I'll put that on my list!

[@jasonallen9436]

I really enjoyed the video..very informative. My question is: I will turn 65 Oct 12,2002. According to your video I have through the month of Jan 2023 to sign up for medicare.In 2021 I converted funds in my TSP into a Roth account causing my AGI to put me into a higher income bracket which would cause me to have to pay more for my Med Part B. If I wait until Jan 2023 to sign up for part B would I then be able to use my 2022 income to compute my Med Part B rate? Would I also have to file my 2022 income tax returns before I actually sign up?

[@HAL-ry5fl]

i want to know this also

[@aliciaponz3999]

Thank you for all the info you provide. My husband is planning to apply for SS this coming June he will be 70 years old in October 2022 but wants to continue working. Right now he has Medicare part A and intent to apply for Medicare part B when he apply for Ss is he going to be penalized ? Right now he had BCBS standard and again he plans to continue working at least for 1 or 2 more years (72 years). Again thank you in advance for advise.

[@PlanYourFederalBenefits]

My pleasure!

[@philip48230]

What if I’m still working past 70 … good health and fairly easy job … is there an advantage to participate in A & B and FEHA while still working as federal employee?

[@andreawales1938]

If you’re still working, don’t automatically jump on Medicare Part A in addition to your Federal Employees Health Benefit (FEHB) just because it doesn’t cost you anything. Stay off Medicare if you’re still working and you want to have more control over the medications you are prescribed. For example, when a disease-modifying anti-rheumatic drug (DMARD) hasn’t been as effective as needed, a person with rheumatoid arthritis might want to take upadacitinib, which is a Janus kinase (JAK) inhibitor in pill form. However, if on Medicare, that person would be forced to first try a tumor necrosis factor-alpha (TNF) inhibitor, which is a biologic given through injection or infusion. Only if the TNF inhibitor weren’t effective would the person be allowed to be prescribed a JAK inhibitor. If the TNF inhibitor were effective, you’d be stuck getting injections or infusions the rest of your life.

[@alexgisser3595]

Question: Is there any window of time to enroll in Medicare Part B after you retire? Just wnat to make sure of the timing - is it best to enroll in it the last month you're still working to play it safe (to avoid later penalties). Also, when exactly would Part B kick in. Say, I retire on June 30. When should I enroll in Part B, and when does it go into effect? Thanks!

[@cynthiaatwood7798]

Thank you for this video! Can you clarify if you have to pay the penalty from the time of your federal retirement or can the penalty be delayed due to you remaining in the workforce after federal retirement?

[@PlanYourFederalBenefits]

The penalty can be delayed if you are covered under health insurance at a job that you are still working at.

[@gpilant]

@@PlanYourFederalBenefits This is a good clarification. Many sites mention, "If you are still working..." Seems important to understand that means working for the same place you get your health insurance. If you are a retired Fed with FEHB and working at any other job, that no-penalty clause does not apply. Your FEHB is coming through OPM. Example, a retired Fed working as a contractor, turning 65 in December. They would pay the penalty if they don't take Part B in the first year, right?

[@JDHarrington]

if you're still working, FEHB pays first and Medicare pays second. Once you retire, Medicare pays first, then FEHB. If you have both insurances AND TriCare for Life, you must file all claims with TriCare manually (file claim paperwork, receipts, etc. via snail mail). Why? Because the normal electronic link between Medicare and Tri-Care is severed due to you having third-party (i.e. FEHB or any other) insurance. For those that have Tri-Care for Life, it makes sense to suspend (NOT CANCEL) their FEHB upon retirement, and rely on only Medicare and Tri-Care. This sets them up to sign up for FEHB later on should their health deteriorate down the road...

[@PlanYourFederalBenefits]

Thanks for sharing!

[@marshagreen-peables4605]

In response to this video, unless changed in last 2-3 mos, I spoke directly with Medicare.gov agent, asking her the question, "If I wait to enroll in Med part B in future, but still enrolled in FEHB(BCBS Basic), will I have to pay a penalty when I do enroll in Part B? Agent said that as long as I was covered under a qualifying FEHB plan, there would not be a penalty for WHENEVER I decided to join Med Part B, & added that I could join Medicare part B at ANYTIME, without waiting for enrollment season. I felt I needed to correct your statement about the penalty. Thank you

[@jerryrn5571]

@@marshagreen-peables4605 that’s a big correction. Is there a link or policy that states this? 🤔❤️

[@ichan3210]

This is the most important correction!!! I found this info from OPM too. ​@@marshagreen-peables4605

[@KathyStowe]

Did anyone see the article he was talking about? I went to the link but only saw the opportunity for a consult.

[@PlanYourFederalBenefits]

You can find that article here: hawsfederaladvisors.com/do-you-really-need-medicare-and-fehb-as-a-federal-employee/

[@bobk4438]

Do I need to tell Medicare I have BC/BS from FEHB?

[@InfoSecSeeker]

Could you cover what happens to an FSA if you retire before the year is over? Also, is an FSA an option in retirement? My dad is looking at retiring with the GEHA standard option plan within the next few years and I couldn't find many sources to give a straight forward answer. If you have any thoughts, comments, or videos on this, I would love to know more about it!

[@PlanYourFederalBenefits]

I'll put it on my list!

[@DeniseW618]

Lets say you are saving $1300 in FSA over the course of year, which is $50 per pay check, but you decide to retire mi-year. You will have paid in $650 into the account. You’ll want to have spent at least $650 in medical expenses by your retirement date. But, you can spend up to $1,300 by your retirement date and get reimbursed on all of it. But, you cannot collect FSA money for any medical expenses incurred after you retire. In this example, you will collect $650 more than you paid into FSA if you incur $1300 in medical expenses before you retire. I called the FSA folks and verified this was true before I decided to do this. I retired at the end of July 2021 and did this very thing. Make sure you estimate the numbers right because you don’t want to leave the government without spending at least what you put in. If you are skeptical about this, which I was, call FSA and ask. They said this is a gift to retirees because it’s easier to do than figure out midyear calculations and they have so many people in the government who leave money on the table every year that they don’t lose anything by doing that.

[@lawandalamar9759]

If you retire before the end of the year, FSA ends on the date of retirement. This means you can no longer get reimbursed for FSA expenses/purchases made after your retirement date. Also, payroll deductions stop. FSAs are not available in retirement and any funds withheld will nit be refunded. Hope that helps. I found out the tough way...lost quite a bit of $$ because I did not know FSA benefits end immediately with retirement.

[@jasonallen9436]

@@lawandalamar9759 On the flip side..If you put the maximum amount into your FSA...use it all at the beginning of the year...then retire...you are not required to make any further payments. You can use $ 2600...only payback $200 and not owe anything else. Hard to believe but true!

[@GracieValenti1]

@@lawandalamar9759 same

[@gregthomas2448]

Wait why would I keep paying $400 a month for FEHB when I turn 65 ? I retired last year 2022 at 55. I’m 56.6 this month. Please do a video on the logic of SS and OPM structuring an earning test on SS and special social security (bridge) benefits. Thank you.

[@notmeee7302]

And it becomes secondary to Medicare !

[@dannyproctor4956]

I am retired military and retired Federal employee and only have TRICARE Prime. Will Medicare affect my TRICARE benefits? I am 60 now and retired in 2017.

[@kennethwaypa7283]

FYI usually Medicare pays first and Tricare Prime would pay last. Since you are retired military you are able to get Tricare for Life for no cost BUT you must be enrolled with Medicare A&B.. my problem is that we didnt sign up for B and we would face at 90%extra per year (husband) and I would have 70% extra to day yearly to get Medicare B. If we have both the Tricare for life is free and would pays last. I just didnt think about Medicare B untill recently,Plus i would have to have my FEHB on suspension.

[@fessit]

Great video. My delima in my health care provider does not accept Medicare, and I like my health care provider (homeopathic). What should I do in that case (I am still working but can immediately retire).

[@Birtee229]

Pay out of pocket and think of it as an additional premium.

[@fessit]

A regular insurance will pick up part of the tab. But am I forced to make Medicare pay instead as my primary?

[@knunn98]

three letters - RMD

[@almabrantley8915]

I have Medicare B and Basic Blue cross should I receive the payback reimbursement each year?

[@patcassidy2019]

How are you liking the coverage ? I soon will be the same coverage 😃

[@striperseeker]

So my FEHB BC/BS 111 plan is ~$190 a month. Part B adjusted for income (we want the most we can get in retirement) is $245 per month (above $103k to 129k). So that makes my health care almost $500 a month in retirement!! That's more than I ever paid working as a single person. Ttat is a lot of money. If you make more than $129k in retirement, Part B is $350 a month alone. OR is retirement income not consered INCOME like W2 income? I still don't understand what it gets me to have Part B.

[@PlanYourFederalBenefits]

If it's any help, here is a link to more information about Medicare and FEHB: hawsfederaladvisors.com/fehb-articles/

[@markherrschaft614]

Rock and Hard place? I'm 65 federal retire with FEHB (BCBS Std). My wife is 60, self employed on my FEHB. If I want to sign for Medicare part B, I would have to keep my FEHB at the current level, so my wife can keep same level of coverage. This means I would have to pay extra cost of Part B (estimating at $340) per month. Until my wife reaches 65, then we can reduce BCBS to Basic. This would reduce BCBS by $200 per month. In simple math, I would have to pay $12,000 extra for those five years (on BCBS std) until my wife is 65; $200x12x5 = $12,000. Am I missing something? Is there another way to sign up for Part B, and reduce my BCBS premium rate without hurting my wife coverage until she is 65? I'm thinking it is better to skip Part B all together, and used the $12,000 for a maybe future medical cost.

[@jasonallen9436]

I am also your age and my wife is 60. I believe only you would need to get Med Part B at this time so it would only be 170 a month.

[@markherrschaft614]

@@jasonallen9436 I came to that decision. When my wife turns 65, we will rethink our options.

[@susan6336]

You both can go to BCBS basic during open season, can’t you? Lower premiums and $800 annual reimb for you being on Medicare part B.

[@markherrschaft614]

@@susan6336 My wife is not 65 yet, so she cannot get Medicare. If I adjust FEHB for me, it works for me, but my wife will have less coverage. One BCBS policy per household.

[@markherrschaft614]

@@jasonallen9436 That is my current thinking. Once my wife reaches 65, rethink the whole solution again. In other words, I'm paying too much insurance, but it keeps my options open until wife is 65.

[@teeybannister]

Will I need this part B stuff.?? I’m 100% VA disabled Vet I have CHAMPVA for my family I have BCBS fep blue also for family I’m a 40 year old federal employee with 17 years of service For myself, I don’t see why i would pay since I usually go to VA for all medical issues.

[@PlanYourFederalBenefits]

Great question. If you would like to talk about all the logistics when making this decision, feel free to schedule a meeting with this link: hawsfederaladvisors.com/work-with-us/

[@oxfd611]

How do you actually make Those monthly premium payments on a Medicare B plan? Do you get billed or is it taken out of your monthly Social Security or federal retirement payments?

[@PlanYourFederalBenefits]

If you are taking Social Security then it will come from that. Otherwise, you will pay direct.

[@judihollingsworth1127]

If you are under CSRS and not receive Social Security, it is takes from your monthly pay from OPM. I Know this because I just turned 65 and it is automatically deducted from my monthly

[@princess2upretty]

@@judihollingsworth1127 I am CSRS and just applied for Medicare (A & B). I was told I would be billed quarterly. Is that incorrect? Will it be deducted from my pension?

[@judihollingsworth1127]

@@princess2upretty it is taken out of my CSRS each month

[@princess2upretty]

@@judihollingsworth1127 Thanks for the info!

[@frostyjim2633]

I just got off they phone with Blue Cross and they most definitely do not reimburse anything. They will continue to charge the same premium when I turn 65 but stop paying for anything

[@fedguy9182]

Do you have Standard or Basic? My understanding is basic will reimburse part B (1600/yr for a couple)

[@frostyjim2633]

@@fedguy9182 Hi, I did find out about the reimbursement (BCBS didn't mention it???), which makes it not as bad, but it's still like spending quarters on dimes. I plan to skip the Plan B

[@ammarbouzouar5497]

i AM RETIRED, CAN I SWITCH FROM FEHB - BCBS TO MEDICARE PART B?

[@PlanYourFederalBenefits]

yes, as long as you are 65

[@iggi70]

I canceled part B and kept FEHB when I was awarded SSDI at age 45. I also get medical from VA. My plan was to pick up part B when I turn 65. Will I have 20 years of penalty when I get part B at 65? So at 65 I will have VA, FEHB and Part A/B.

[@eddenoy321]

I doubt that . My impression is that it is a 10% penalty for each year after age 65. But not sure if that is the same for SSDI recipients. Set aside a few hours to enter call center hell to make sure or look for the answer online.

[@kathleenhinrichs7247]

You need to update your Part B spiel with new regulation coming in 2025.

[@alangarrett1181]

What changes are coming and where did you find that?

[@kathleenhinrichs7247]

@@alangarrett1181 Postal retirees will be required to take Part B in 2025. I retired 2017 and chose not to take it. Now in 24 ahead of changes, both my husband and I can get Part B with no penalty.

[@Kdthefamous16]

I'm. Not. On Medicare

[@s.c.6367]

Everything is for their benefit and their bottom line.

[@user-vf3gf4xq3v]

If you have good retirement income Medicare part B is bad. They calculate your premium based on adjusted gross income, not taxable income. So let’s say you have substantial medical expenses not covered by Medicare (e.g. skilled nursing) that you can deduct so that your taxable income is low, your medical premium will still be very high.

[@Jim-oo7dk]

Let's see, my government plan costs me in retirement $525 a month, Medicare Part B costs $174.70 a month. I will be dropping FEHBP like a hot potato.

[@houstoncasemanagers]

Didn’t know federal plans were that expensive! You can probably get a Medicare supplement for around $130 per month if you wanted the same comprehensive coverage as you had w federal plan +Medicare.

[@lizamimi]

Don’t drop it…just suspend it or pause it…just in case you wish to re-enroll …once you stop it permanently you cannot re-enroll.

[@samtx5518]

I hear you knock’n but you can’t come in…65 😂

[@s.c.6367]

Medicare will not cover you as an expat.

[@michaelvadney5803]

Very good info! Thanks

[@PlanYourFederalBenefits]

Glad it was helpful!

[@dannyproctor4956]

I am retired military and retired Federal employee and only have TRICARE Prime. Will Medicare affect my TRICARE benefits? I am 60 now and retired in 2017.

[@PlanYourFederalBenefits]

Feel free to submit your question here: app.hawsfederaladvisors.com/question-submission