Medicare, fehb, psra, again

[hipster dufus]

Im getting close to 65, retired postal employee, csrs. Have a fehb plan, 350$ a month, self plus one. If we get medicare B, another 340$ a month. Was not going to get medicare B. Now im hit with the postal service reform act. Im trying to figure out if i MUST take medicare B under the soon to be implemented rules?has anyone figured this out? 8k a yr in premiums is a huge chunk. The best option if i must would be to drop fehb and just get B with a supplement, even then i would have to pay both till the missus is eligible for B. I cant make hide nor hair out of it. Anyone pondered it yet?

 

[trial&error]

Try to talk to your local HR it's all very confusing. Armed with their info actually read the medicare info before deciding. Ideally some who have gone through that part with retirement will chime in. I know it's come up a few times over the years. And Every situation is different.

 

[hipster dufus]

No HR, im retired. I cant make sense of whats coming down the road. It seems to me the purpose of the psra is to force people to pay medicare B. One payer system. I may be worrying uselessly. I know i dont want to pay 8k in premiums

 

[Oldstick]

Yep, I am in a similar situation. Wife turns 65 early next year. But in my case I have no choice but to keep the FEHB plan. We would have been bankrupt many times over the years without it. She already has two hospitalizations for surgery this year plus probably more than 8K worth of surgery claims just through March. I am hoping to switch to a "cheaper" FEHB plan for next year, plus Medicare and still come out with minimal out of pocket costs.

 

[hipster dufus]

Im hoping, that the mew pshb plans will b cheaper if u get med B. From what i understand opm will hav new plans available. I dread trying to figure it out,

 

[Oldstick]

OK, bumping this again as it is counting down to crunch time for us. I am already on a Medicare Advantage and my wife will be 65 very early next year. So we have some decisions to make when the FEHB open season comes up in a month or two. I am wondering what some of you others are doing.

I had thoughts of paying for plain Medicare A&B for both of us and then switching to one of the lesser priced FEHB plans as the backup/supplement. Hoping that we will be covered close to 100% between those.

Anyone else have this and if so what FEHB plan did you go with?

 

[Jim Baker]

The difference I see in FEHB is drug coverage.
In my case I have one prescription that is $500 per month and I pay $50. The rest of my prescriptions run around $150 and I pay around $15. Wife's drugs run around $200 and she has 10% co-pay.

We have Part A and B plus FEHP BC/**. In 7 years we have never paid a copay to a doctor, clinic or lab. Drug co-pays are the only out of pocket we have had.

With all that said, it is confusing. I quit looking at the Medicare statements because they give me a headache. But I would venture to say that FEHB pays way more than Medicare A and B.

 

[hipster dufus]

The problem is I won't know what the new postal service plans are till end of 2024, I turn 65 early in 2024. I think I would have a grace period till new plans are available. No one seems to have any info.

 

[hipster dufus]

The postal service is changing plans and getting out of fehb. The new plans are available end of 2024. I will turn 65 in early 2024. I have to make a decision without knowing what the new plans are or the cost of them.I can wait and pay the penalty. Hopefully there will b a grace period.

 

[BassRaider]

Whatever decision you make, you may be stuck with it for the future? You cannot be denied coverage but hard to change when you have medical conditions.
For example, when I retired, my total insurance cost @$800 mo. Since I had no preference to any certain doctors/dentists, I decided to go with Kaiser. I pay $71 mo. (no deduct) and it covers all my meds, routine dental visits, eyeglass allowance/exam. Been with them 7yrs with no issues (1 stop shop). Med Part B @$164.90 mo. is deducted from SS. As long as I live in either Gwt/Hall area, I'm good.
Now my wife is with United Health and it's much more expensive @$300 plus part B.
Keeping our employer medical would have bankrupted us years ago and we went another route.
Good luck, it's tough!

 

[Oldstick]

We have Part A and B plus FEHP BC/**. In 7 years we have never paid a copay to a doctor, clinic or lab. Drug co-pays are the only out of pocket we have had.

If you don't mind me asking, which one of the FE Blue Cross plans do ya'll have? I have been doing a little research based on this year's plans and I see BC has several different option levels.

 

[Gbr5pb]

I’m there with y’all. We have Medicare and Bluecross at the moment have no idea with the upcoming changes. Do wish they had a lower cost supplement plan. Following

 

[Jim Baker]

If you don't mind me asking, which one of the FE Blue Cross plans do ya'll have? I have been doing a little research based on this year's plans and I see BC has several different option levels.

Not trying to play dumb but it is my wife's insurance. What I do know is she pays around $400 per month, probably going up.

We have a co pay on drugs which seems to vary but never more than 10%.

I have had 4 hospitalizations in the last 2 years and between medicare and Blue Cross we had no out of pocket expenses.

All my doctors and hers are in network. Don't have to go scrounging for a new doctor with every ailment.

Might cost more than other plans going in but the benefits coming out outweigh the extra cost in my opinion. Your health might be good and you might come out better with a different supplement. But all my health problems hit at seemingly the same time. We are thankful to have a plan that pays for almost everything medical.

 

[Oldstick]

Thank you Jimbo, that is good info to know. I am thinking we are going to need to just bite the bullet too, due to my wife's ongoing stuff. Three hospitalizations with surgery already this year.

Might even stick with our current FEHB plan (NALC) as it is similar in price to what you mentioned. Then cough up the extra 300 something a month for two on Medicare and be done with it.

 

[Gbr5pb]

Unfortunately when we get a certain age something is going to get us

 

[Oldstick]

Unfortunately when we get a certain age something is going to get us

Very true. I personally (but not my wife) have been extremely lucky thus far in life but time to stop burying my head in the sand. Insurance is a financial risk mitigation.

Older we get, it's just a matter of how much longer until the inevitable avalanche is finally going to hit.

 

[notnksnemor]

Union?

 

[Gbr5pb]

Retired federal employee

 

[hipster dufus]

I use fehb kaiser low option now. 340$ish a mo. If we ad medicare another 340 a month.