Q. I am turning 65 in December. I am retired from the federal government and have Aetna HMO. I am also retired from the Army Reserve and have Tricare and I am 30 percent disabled from the Veterans Affairs Department (diabetic). I live in New Jersey with my wife at 59; my son is still in college at 22; my 19-year-old daughter is also in college. I work part time and use my retirement health care and Tricare to cover myself and family. I am not filing for Social Security until I am 66. I am totally confused on Medicare…
Browsing: Tricare
It’s easy to make mistakes when you are planning to retire. Some of the biggest mistakes apply to all employees; a few apply only to CSRS or FERS retirees. All can be costly. Here they are and what you can do to avoid them: Retiring on the spur of the moment. It can be disastrous, for two reasons. First, if you hand in your retirement application at the last minute, it may contain errors that delay processing or even cause it to be rejected. Second, decisions made in haste often come back to bite you. Once committed to a course…
Q. As a currently “working” federal employee with Federal Employees Health Benefits, soon to receive Medicare and Tricare for Life, how can FEHB be eliminated from the three insurances but be reobtainable should there be a lapse in Medicare or TFL? The situation is simple for a federal employee going into retirement: Fill out form 79-9 electing to suspend FEHB for Medicare and TFL. Is there a form or path to do the same if a federal employee continues to “work” and wants to eliminate FEHB coverage? I am told, if “working,” an employee must cancel FEHB. It would be…
Q. I turn 60 on Jan. 1, 2015. I am a FERS employee who will have 20 years creditable service in January of 2014. If I retire Dec. 13, 2014 (the end of a pay period) do I understand correctly that my Federal Employees Health Benefits and Federal Employees Group Life Insurance coverage will be extended for 31 days at no cost to me? I plan on postponing my annuity receipt until Jan. 1 (when I turn 60) to avoid the under-62 penalty. Also, do I understand correctly that since my postponed annuity date will be Jan. 1 that my…
Q. I will be retiring with 18+ years of federal service in March at age 57 under MRA +10. I am a military retiree enrolled in Tricare Prime. I have been looking at what, if any, Federal Employees Health Benefits I should take. I know, at age 65, I will need to get Medicare Part A. But is using something available under FEHB my best option? Since I have never been enrolled by FEHB before, I know I have to get documentation from Tricare saying I have used them for at least five years. If I go with FEHB, can…
Q. I retired from the Army after 23 years and began my civilian service last year. I have seen from your blog that, even as a military retiree, I can buy back my years of military service and apply them to my federal service. But if I do: 1. Do I lose my health care through Tricare? 2. At what point do I stop receiving my military retirement pay (when I buy back my military service time or when I retire from civilian service)? 3. Would this affect my disability pay, which I believe is separate from my military retirement…
Q. I am 65 and plan to retire in two years. I have Medicare now as my primary. I have federal Blue Cross as secondary and Tricare as third. (I am a retired Navy veteran.) My wife is 59. She has had four knee replacements and has a lot of issues with arthritis. Tricare says I have to have Medicare Part A and B. Once I drop Tricare, I understand I cannot get it back. I feel that my wife and I are grossly overinsured. However, it appears that I have to keep it all — Medicare A and B,…
Q. I do not carry Federal Employees Health Benefits because I came to federal employment after retirement from the military and I have Tricare for Life. I have also turned 65 and have Medicare Part B. When I recently went to a retirement planning seminar, I was informed that I could sign up for FEHB during the open season this fall and then carry it into retirement in 2014. Although I would not have the five-year continuous FEHB coverage prior to retirement, I was told that having Tricare will satisfy the five-year requirement. Further, I was told I could sign…
Q. I’m retired military and a current FERS employee. My medical coverage is Tricare, which I’m very happy with. In six years, I would be eligible for a federal retirement. Those six years give me time to enroll in Federal Employees Health Benefits if I would like to carry that coverage into retirement. My health is good. What factors would I consider in deciding to stay with Tricare, or add FEHB coverage if I retire at age 56? Does Medicare coverage factor in?
Q. I retired from active duty after 24½ years and immediately started as a federal employee, for 7½ years now. I’ve never elected Federal Employees Health Benefits coverage because I’m enrolled in Tricare Overseas. I’m planning to retire at MRA+10 in 2½ years at age 57½. 1. If I begin enrollment now in FEHB and retire at my minimum retirement age in 2½ years, can I count the time in Tricare toward the five-year enrollment requirement for FEHB? 2. If I don’t enroll in FEHB now, can I count my time in Tricare for the entire FEHB five-year enrollment requirement…