Q. I am a federal annuitant and have Federal Employees Health Benefit Plan 105 for myself and my spouse. We also subscribe to Medicare Part B. Since there are overlaps between Medicare Part B and FEHBP, I am considering stopping Medicare Part B. How do I do a cost-benefit analysis of retaining vs. stopping Medicare Part B? Also, please let me know about which state and federal help agents I can approach. A. To the best of my knowledge, there isn’t any publication or software that will allow you to do a cost-benefit analysis. There are simply too many variables.…
Browsing: HEALTH INSURANCE
Q: In March 2012 I will be eligible for full military retirement. I am retired from the Army Reserve and will be 60 in March. I have BCBS. Is there an advantage to maintaining BCBS coverage rather than dropping it and going with Tricare, which would be less expensive? A: Many of those who are eligible for both an FEHB plan and Tricare elect to suspend – not drop – their FEHB coverage. If you were to drop it and then lost Tricare coverage, or found that changes in its structure and benefits made it less appealing, you wouldn’t be…
Q: I am retired military and also a DoD civilian under FERS. I use Tricare as my health insurance. When I retire, I would like to also have FEHB as a “backup” to Tricare, just in case something changes with Tricare. Do I have to have FEHB for five years prior to my retirement or can I get FEHB at any time once I retire? Also, can I include my family with FEHB coverage after retirement, even if they are not covered now? A: To carry FEHB coverage into retirement, you would have to be enrolled in it before you…
Q: If carried under your spouse who is a non-federal employee and she retires, the federally-employed spouse is eligible to elect FEHB coverage due to this loss in coverage because of the retirement of his spouse. Will he have to work an additional five years to be able to take the FEHB into retirement? A: Yes.
Q: I am on disability retirement through the postal service. I am 48 years old and am FERS. I have been retired since 2009. I am also receiving Social Security Disability. I just received information from Social Security stating I am required to receive Medicare B. It says I may opt out, but if I decide to join later, I may end up paying penalties. My question is can I keep my health insurance through FEHBP? I have Blue Cross Blue Shield. If I do keep it, and decide to keep Medicare B, is Medicare B the supplementary insurance or…
Q: I am on disability retirement through the U.S. Postal Service. I am 48 years old and am under the Federal Employees Retirement System. I have been retired since 2009. I am also receiving Social Security disability. I just received information from Social Security stating that I am required to receive Medicare Part B. It says I may opt out, but if I decide to join later, I may end up paying penalties. Can I keep my health insurance through the Federal Employees Health Benefits Plan? If I do keep it and decide to keep Medicare Part B, is Medicare…
Q: In November 2011, I will be 65 and start Medicare Part A. I am retired military and currently have FEHB and Tricare. Tricare is telling me I will have to take Medicare Parts A and B to keep Tricare. I plan to continue to work past age 65 and would like to keep my FEHB. Is there an easy way to determine the best mix of FEHB, Medicare and Tricare, both while I’m working and when I retire? A: None that I know of. However, if any of our readers who are or have been in a similar position…
Q: I retired from the U.S. Postal Service under CSRS with 32 years of service. I gave my ex-wife a full survivor annuity and she also is covered under the FEHB plan. I remarried and my current wife has been covered under my FEHB/APWU (Family 472) for the past seven years. If I should die, would my current wife be able to continue with this FEHB plan? A: No. To continue coverage, she would have to be receiving a survivor annuity.
Q: I am a recent retiree, younger than 65, and have just received my final annuity computations. I expected Medicare would continue to be deducted and have now read two puzzling things: That Medicare is not taken from annuity payments, and that I must contact the Centers for Medicare & Medicaid Services to have payments withheld. By law, I understand Medicare becomes my primary payer, with my federal health plan second, when I turn 65. My question is: As a retiree under the Civil Service Retirement System, do I “owe” 1.75 percent of my monthly annuity to Medicare and must…
Q: My spouse and I are both under the Federal Employees Retirement System and our service computation dates are within weeks of each other. We would both like to retire under the minimum retirement age plus-10 provision. My spouse wants to retire in 2011 at age 58, with 26 1/2 years of continuous service, the entire time enrolled in a Federal Employees Health Benefits individual plan. The earliest I would retire is 2012 at age 57, with 27 1/2 years of continuous service, all in an FEHB individual plan. Here is our plan: During this open season, I should enroll…