Medicare part B & FEHB?

[Artfuldodger]

Do most federal retirees and perhaps others even take out Medicare part B if they also keep their regular employee health insurance after retirement?

So to fill in the non federal workers, we can carry our health insurance after retirement at the same rate as when we are retired. I would assume most people this if they retire before the age to start Medicare coverage.

Now if one does wait until later to start plan B they will pay a penalty. So if you want Plan B you'd best decide to sign up for it during your "Initial Enrollment Period" which I think is 3 months before you turn 65.

I'm guessing one could retire at 62 from federal service, keep his employee insurance until he turns 65, then swap to Medicare plan A & B. I'm not sure this is in one's best interest.

I'm just not sure if one needs Medicare Plan B if he has a regular insurance policy.

Are there any other situations where one has a regular health insurance policy and keeps in in lieu of Medicare plan B?

 

[Jim Baker]

My wife has FEHB and retired. She is 62 and CSRS. I am on Medicare and Her FEHB. I took the Part B because it is relatively cheap and her FEHB serves as my supplemental.

Every benefits expert she talked with said keep the FEHB regardless of what you do with medicare. Mostly for the drug benefit.

That said I have not paid a dime in medical expenses the last 2 years. Had skin cancers cut out 2 months ago. The doctor bill was $2700. THis was out patient. As I understand it Part A may not have paid for this. I paid nothing. That paid for the Part B and 1/2 of FEHB premium for the year. THen there is my recent 4 days in the hospital. I paid nothing.

 

[b rad]

I'm curious to this as well I have fehb and I'm a reservist navy Seabee I wanted to get out of the reserves Bc I have a navy dod federal job but my wife says we need it for 30 years from now when I'm 60 bc federal health insurance want be as good as what a reservist who retired gets at 65 so do federal employees get insurance covered when they retire would it be the same kind of Medicare that retired military get bc when they turn 65 they lose tri care and get Medicare

 

[Artfuldodger]

I'm curious to this as well I have fehb and I'm a reservist navy Seabee I wanted to get out of the reserves Bc I have a navy dod federal job but my wife says we need it for 30 years from now when I'm 60 bc federal health insurance want be as good as what a reservist who retired gets at 65 so do federal employees get insurance covered when they retire would it be the same kind of Medicare that retired military get bc when they turn 65 they lose tri care and get Medicare

A federal retired employee will automatically get Medicare part A which I think is the same Medicare retired military and other folks get. I think Medicare A, B, C, and D is the same for everyone. B, C, & D are optional.

It is also optional for a federal employee to keep his same FEHB when he enters retirement. I would think if a military retiree loses his Tri-Care and it transfers to Medicare A, he'd better sign up for B or keep his regular FEHB if he is a federal employee. I'm wondering it I should keep both.

I'm not so sure I would depend on the military, government, or Veterans Affairs for much of a promise in healthcare. The VA changes every year as to who they are giving healthcare too, co-pays, etc.

Perhaps if one is service connected they may can depend on Medicare and the VA.

 

[Jim Baker]

A federal retired employee will automatically get Medicare part A which I think is the same Medicare retired military and other folks get. I think Medicare A, B, C, and D is the same for everyone. B, C, & D are optional.

It is also optional for a federal employee to keep his same FEHB when he enters retirement. I would think if a military retiree loses his Tri-Care and it transfers to Medicare A, he'd better sign up for B or keep his regular FEHB if he is a federal employee. I'm wondering it I should keep both.

I'm not so sure I would depend on the military, government, or Veterans Affairs for much of a promise in healthcare. The VA changes every year as to who they are giving healthcare too, co-pays, etc.

Perhaps if one is service connected they may can depend on Medicare and the VA.

Like I said, every benefits expert, both independent and government related advised her to keep her FEHB regardless after she begins Medicare at 65. If you retire at less than 65 you pretty much have keep it to have health insurance.

 

[Oldstick]

I am wondering the same thing as Artful, is an FEHB retiree required to purchase part B when they reach 65? In other words do they have to buy Part B in order to stay in FEHB?

I agree no retiree should ever drop out of the FEHB. It is too valuable a benefit with the top plans being $1500 a month deluxe packages, where the employee/retiree only has to pay less than a third of it.

I am not 100% sure but I think the answer to my question above is no you are not required to take part B. Some one correct me if wrong on that.

However I attended a CSRS retirement seminar a few years ago and I remember something about there being strong advantages to do so. I think maybe the FEHB carriers give you big incentives like waiving deductibles and coinsurance and such. Plus I imagine you could chosse one of the cheaper FEHB plans and still come out like a rose with A,B and FEHB.

 

[Jim Baker]

I am wondering the same thing as Artful, is an FEHB retiree required to purchase part B when they reach 65? In other words do they have to buy Part B in order to stay in FEHB?

I agree no retiree should ever drop out of the FEHB. It is too valuable a benefit with the top plans being $1500 a month deluxe packages, where the employee/retiree only has to pay less than a third of it.

I am not 100% sure but I think the answer to my question above is no you are not required to take part B. Some one correct me if wrong on that.

However I attended a CSRS retirement seminar a few years ago and I remember something about there being strong advantages to do so. I think maybe the FEHB carriers give you big incentives like waiving deductibles and coinsurance and such. Plus I imagine you could chosse one of the cheaper FEHB plans and still come out like a rose with A,B and FEHB.

I didn't think anyone was required to sign up for Part B.
I thought that you were automatically enrolled when you started Medicare and had to request no part B. Otherwise it was deducted from you SS benefits or you had to submit payment if you were not yet drawing SS.

At least that is the way it worked for me. I start drawing SS at 62 and began M/C last year.

 

[Oldstick]

I didn't think anyone was required to sign up for Part B.
I thought that you were automatically enrolled when you started Medicare and had to request no part B. Otherwise it was deducted from you SS benefits or you had to submit payment if you were not yet drawing SS.

At least that is the way it worked for me. I start drawing SS at 62 and began M/C last year.

You are undoubtedly correct Jimbo on how it works. Thanks for the info, because I have been pondering this subject myself, since I recently retired CSRS and will be 65 in 5 years.

Since you are the spouse of a CSRS retiree, I figure the same would apply to me and my spouse. Pretty much mandatory for both spouses to stay on the FEHB plans (for life) and very highly recommended to opt-in for Part B Medicare at 65.

I have talked to other people who say the same as you. Have Medicare A/B + FEHB and pretty much ever medical cost is covered 100%.

That is except when it comes to long term living care, like nursing homes and such. (But that is another subject.)

 

[king killer delete]

Medicare part a&b, tricare for life for retired military

 

[Artfuldodger]

Medicare part a&b, tricare for life for retired military

Brian Duffey said he'd lose his Tri-Care when he turned 65 and Medicare kicked in.

 

[Artfuldodger]

Like I said, every benefits expert, both independent and government related advised her to keep her FEHB regardless after she begins Medicare at 65. If you retire at less than 65 you pretty much have keep it to have health insurance.

I'm most definitely gonna keep my FEHB. The main question was should I also buy Medicare part B? Others seem to suggest buying it as well.

I only paid in enough social security to make the quarter quota. So I'll probably only get about $300.00. Because of the "windfall elimination tax" I'll only get about half that. So basically I'd be spending all my SSN on medicare part B. Not a big deal if I need to. My wife will only draw on my social security so she won't be getting much either. I'm CSRS with 42 years if service.

Does one continue to pay for Medicare A when they draw social security or do they just take out of for Medicare B, C, & D if one elects one of those?

 

[king killer delete]

Brian Duffey said he'd lose his Tri-Care when he turned 65 and Medicare kicked in.

Doesn't work that way. Medicare is primary and Tricare is secondary. Where non military retired folk must buy another insurance policy to supplement Medicare, Tricare works as supplemental insurance.

 

[Artfuldodger]

Doesn't work that way. Medicare is primary and Tricare is secondary. Where non military retired folk must buy another insurance policy to supplement Medicare, Tricare works as supplemental insurance.

Oh ok, Maybe Brian will read this. He thought retirees lose Tri-care when they turn 65. I did read that one must elect Medicare B to receive Tricare.

 

[Oldstick]

I the Medicare A (hospital coverage) is automatic and "free" if one has paid the Medicare tax over the years. Which most CSRS employees did.

It's not that great though, with a $300 per day copayment for a routine, short hospital stay.

 

[king killer delete]

Oh ok, Maybe Brian will read this. He thought retirees lose Tri-care when they turn 65. I did read that one must elect Medicare B to receive Tricare.

This is true.

 

[Jim Baker]

I'm most definitely gonna keep my FEHB. The main question was should I also buy Medicare part B? Others seem to suggest buying it as well.

I only paid in enough social security to make the quarter quota. So I'll probably only get about $300.00. Because of the "windfall elimination tax" I'll only get about half that. So basically I'd be spending all my SSN on medicare part B. Not a big deal if I need to. My wife will only draw on my social security so she won't be getting much either. I'm CSRS with 42 years if service.

Does one continue to pay for Medicare A when they draw social security or do they just take out of for Medicare B, C, & D if one elects one of those?

You only pay FICA taxes if you have earned income. If you work while collecting SS, SS/MC taxes withheld from your pay.

My wife has 42 years of CSRS and never paid any SS taxes, paid Medicare. She retired this year and will not be eligible for M/C for 2 more years. THe FEHB is a valuable resource.

 

[hipster dufus]

ok, recent retiree,csrs.medicare part A is hospitalization. we all paid for it, so we all get it at 65. at 65 we r eligible for part B. do we want to pay for that in addition to our fehb premium? that is the question. i am planning on getting enough SS quarters to, hopefully, cover just my part B premium. i will keep a cheaper fehb plan.the plan i have know is about 275 a month for wife and i, if we add part B that would be about 220 more a month when she is 65. so maybe 600 a month for the 2 of us , but that should keep my co pays to little or nothing. i am 58 now so this plan can change. i do have a neighbor that retired out of lockheed and ending up dropping his company heakth plan because part B w a supplement was cheaper. less then 200 a month. everyone is different.fehb has a lot of plans to choose from every year.good luck

 

[Stroker]

Retired in 2013 at 62 and kept my FEHB. At 65 I started Medicare which became my primary(opted out of part B) and my federal BCBS became secondary. I haven't paid a penny out of pocket for any medical service since turning 65 and my meds run me about $3.00 a month. If you keep your FEHB I see no benefit of paying for part B. I will never drop my FEHB.

 

[Oldstick]

Retired in 2013 at 62 and kept my FEHB. At 65 I started Medicare which became my primary(opted out of part B) and my federal BCBS became secondary. I haven't paid a penny out of pocket for any medical service since turning 65 and my meds run me about $3.00 a month. If you keep your FEHB I see no benefit of paying for part B. I will never drop my FEHB.

Now you have me curious, are you saying there have been no deductibles, co-payments, or anything with BCBS after you turned 65? Even without having MC part B?

 

[hipster dufus]

yes i am also curious. part A is free, it is hospitalization only. you dont have B, but you have no copays? enlighten us please