Q. Regarding Medicare premiums: Is it taxable income or modified adjusted gross income that is used to determine Medicare premiums for those with higher income? Do you know what the premium amounts will be for 2013? A. The premiums are based on your taxable income, not your gross income. The 2013 premiums haven’t been announced yet.
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Q. When I retire from the Veterans Affairs Department at age 62 in nine years, I will have carried Blue Cross/Blue Shield on myself for 20 years and my spouse for 16. He will be 65 then. Can we continue the BC/BS family plan after I retire? What will be the difference in premiums? I pay approximately $200 per month now. I am worried that I won’t have health insurance because I won’t be Medicare-eligible until age 65? A. Relax. You’ll not only be able to continue your coverage in retirement, but the premiums will be the same as those…
Q. My wife retired on disability 2½ years ago after 26 years of federal service because of dementia. She has other health issues. Recently, we received a letter and a “Welcome to Medicare” brochure. We are very happy with Blue Cross/Blue Shield of Florida. Can she refuse to go on Medicare? And what is are advantages of going on Medicare? A. There are no arguments in favor of turning down Medicare Part A. She already paid for it through payroll deductions while working. You need to look at her Federal Employees Health Benefits brochure to see what the effect would…
Q. My agency is going to offer early outs this fiscal year, and I want to take advantage of that. I am 48 and have been in FERS my entire career, with no service breaks. My service computation date is October 1983. If I take the early out, my major concern is if I can keep my heath benefits. Will I get to keep my full health benefits? Will I have to take over from my agency the full cost of premiums? Will open season still be available to me each year, just as it is every year as an…