Q. Thank you for the informative article on “Making Sense of 2 Types of Annuities.” I am a CSRS employee planning to retire in 2011 (at 57/32+). Our Self & Family FEHBP is and has been under my name since 1980 with out-of-pocket medical bills reimbursed via our FSA. My wife, born in 1956, is a FERS employee planning to retire in 2014 (at 58/10) under the MRA+10 provision. We wish to continue to utilize our FSA when I retire by moving our Self & Family FEHBP coverage under my wife’s name until she retires. But as I understand from…
Browsing: Coverage after retirement
Q. I am currently 54 years old under FERS and considering early retirement in the next 3 – 4 years. I am also retired from the military and bought my service time. I currently do not carry any Federal Health Care Benefit; I use my military benefit. Once I retire from federal civilian service my retirement pay from the military will stop; does this have any effect on my military health benefits? A. It’s my understanding that waiving your military retired pay will not affect any other military benefits to which you are entitled; however, to be sure, you’d need to…
Q: I plan to retire at 60 years old with FERS. If I take the lump sum, will my health insurance still be valid and will the agency still pay its portion? Please give all scenarios (even the bad ones). A: I assume by “lump sum,” you mean accepting a Voluntary Separation Incentives Payment. If I’m right about that, you are eligible to retire, and you have been continuously enrolled in the Federal Employees Health Benefits program for the five years before you retire, you will be able to continue that coverage in retirement. If you are an employee of…
Q: I am considering retiring, but need to know whether there is a specific form I must complete in order to continue my Blue Cross and Blue Shield insurance after retirement? I have had BCBS for over 5 years. A: No special form is required. Your coverage will continue seamlessly without your doing anything other than your checking the box confirming your eligibility on the Application for Immediate retirement: Standard Form 2801 (Civil Service Retirement System) or 3107 (Federal Employees Retirement System).