Q. I was approved for OPM disability retirement and Social Security. I understand that I can elect Medicare Part B coverage and pay an additional premium. I already am covered under the Federal Employees Health Benefits plan and pay that premium. I also have been advised that I will pay a penalty for every year that I do not sign up for Medicare Part B while eligible. Is that so in every case? Should I pay both premiums? I am 52 years old.
A. Yes, there is a penalty for every year you don’t sign up for Part B. However, I can’t tell you if you should sign up for it. You’ll have to figure that out on your own based on your current and anticipated medical needs. Once you’ve figured that out, compare what will be covered by your FEHB plan with what Part B covers.