I’ll start 2013 with a summary of changes to federal pay, cost-of-living adjustments and Social Security benefits. Regarding pay, sorry to say, 2013 is beginning as a repeat of the past two years. While your take-home pay can still be increased by within-grade increases and promotions, the freeze on annual across-the-board pay adjustments continues at least through March. If you’d like to see what you will be making this year, go to the salary tables on the Office of Personnel Management website. Although you haven’t seen across-the-board increases in your salaries because of the pay freeze, the Social Security maximum…
Browsing: Medicare
Q. I am retired and on Social Security disability. I am 63 and now receiving regular pension since 62. I am covered by FERS BC/BS. I was under the impression that my coverage continued till age 65 when I retired in 2000. I will have to wait till 66 to retire under the new Social Security rules for retiring. Will the health coverage continue till age 66, or will it stop at 65, leaving me with no insurance since I can’t get Medicare till age 66 now? And how does one keep the coverage later? A. First, a correction. The…
Q. I am a federal retiree on Medicare with Blue Cross Blue Shield basic. I also have a third insurer through New York’s state insurance program. The program is putting all its Medicare retirees into a Part D drug program. How will this affect my BCBS drug coverage? A. According to OPM, if you are enrolled in Part D, your FEHB plan will coordinate benefits with Medicare.
Q. I am a CSRS employee and plan to retire March 29. 1. Will I be on the annuity roll for my first check on April 1 or May 1? 2. Will I incur a reduction in my annuity because of the retirement date? 3. I will turn 65 in April, so I will be eligible for Medicare. I have had Federal Employees Health Benefits for four years, and I am Tricare-eligible. I am aware that my time with Tricare will count toward my five years and that I can suspend my FEHB and go with Medicare/Tricare for Life. What…
Q. My sister is a retired police officer living in North Carolina and will be eligible for Medicare in August. How does she apply for Medicare? All of the questions I’ve looked at address retirees who are on Social Security, which she will not be. She will continue with Blue Cross/Blue Shield government health insurance. A. She should call the Social Security Administration at 1-800-772-1213 and talk to one of their benefits specialists. If she isn’t eligible for a Social Security benefit, she won’t be eligible for Medicare Part A. However, she can enroll in Part B at her own…
Q. I have the standard option federal Blue Cross/Blue Shield. I will be 65 this year and will sign up for Medicare Part B. Should I reduce my federal coverage to the basic option? A. Only you can answer that question. You’ll need to compare the benefits in each Federal Employees Health Benefits option with what Medicare provides and how the two interact. Since you know both your current level of health and what you anticipate (or fear) may happen in the future, you are in a better position than anyone else to decide which is the better choice.
Q. I retired from the federal government Oct. 3 at age 59. My husband, age 67, receives Social Security benefits. Since I carry him under my Federal Employees Health Benefits, he did not elect Medicare Part B when he began receiving the Social Security benefits. However, now that I am retired, does he have to sign up for Part B? I’ve also provided for a spousal annuity for him should I pass. My human resources office advised that if he does sign up, because I just retired, any penalty, etc., will be waived. I’ve been researching to try and understand…
Q. I am getting ready to enroll in Medicare. I have GEHA High Option Family Plan and was advised to change to GEHA Low Option Family Plan once I am enrolled in Medicare. I have the High Family Option because my spouse is ill and requires frequent medical attention. A. The only way to know if that would be a good decision for you and your spouse would be to compare the benefits for each level of GEHA coverage and see how they would mesh with Medicare. If your spouse isn’t covered by Medicare, electing the low option might increase your out-of-pocket…
Q. My father was recently involved in a motor-vehicle accident where a car hit him while he was riding his bicycle. He’s 72 and sustained major fractures to his ankle. During this time, my siblings and I realized that his insurance was so substantial, that we wondered if he was overinsured, possibly due a refund from his primary insurance carrier. He has NALC insurance and Medicare Parts A and B. His Social Security is deposited directly into his checking account, so he hasn’t seen a statement in awhile, but he thinks he has insurance premiums deducted from his monthly deposit.…
Q. My husband and I are retired feds. We kept our fed insurance because I was not on Medicare yet. We figure that we will pay more than $500 a month for Part B, which is more than our federal insurance. If we do not take Part B now and our income drops later, can we sign up without penalty? A. No.