Medicare part B & FEHB?

[Stroker]

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?

My mistake, I do have part B, my monthly payment comes out of my SS and I've hardly noticed the small monthly payment. In February this year had a $1900+ visit to the ER after I went lights out at home and done a face plant on the bed foot board due to dehydration, zero deductible/co-pay. Had a $925 colonoscopy last month, zero deductible/co-pay. Been visiting my chiropractor twice a week since January, zero deductible/co-pay. No matter what I ain't giving up my BCBS Fed. Just my experience so far, YMMV.

 

[Oldstick]

Thank you very much for that info Stroker. That is exactly what I had envisioned would be the case, when we turn 65.

Most definitely keep the FEHB and get medicare part B. But no need for part D with the FEHB.

I am going to add just one more note, though. I too have had the BCBS family plan for the last 25 years or more as an employee. Fine with it, and could afford it while working, and my family of 5 would have gone bankrupt many, many times over without it all those years. I retired in Dec 2015 on CSRS and I continued with BCBS for 2016.

But I spent some time during the open season in 2016 and switched to the NALC plan (operated by CIGNA) for this year. It was $350 a month vs. $550 for BCBS. So far all the doctor co-payments have been lower $20. All their other coverage seemed as good or better than BCBS. I felt I was taking a risk, but so far the only problem I have run into is they insist you go either mail order Caremark or to CVS Pharmacy for any long term medications you have. So I had to transfer several over from Walmart, which was a minor inconvenience.

Haven't had any emergencies or hospital visits yet, so time will tell on that. One difference for us now is there are only 3 of us, me, wife and a disabled son.

 

[Oldstick]

In keeping with this thread, how do they determine the cost of Medicare Part B for us CSRS retirees?

When I reach 65 I anticipate having zero or very little Social Security between me and my spouse. So do they base it on your actual SS income, or if you are currently getting earned income as a retiree, or do they figure your retirement pension income into the equation?

 

[Artfuldodger]

In keeping with this thread, how do they determine the cost of Medicare Part B for us CSRS retirees?

When I reach 65 I anticipate having zero or very little Social Security between me and my spouse. So do they base it on your actual SS income, or if you are currently getting earned income as a retiree, or do they figure your retirement pension income into the equation?

Is part B based on SSI income? I'm CSRS with barely enough SSI credits to qualify. I hope it's enough to pay for my part B.

 

[hipster dufus]

dodger part B is about 105$ a month. iam also hoping my little ss check will cover it. if not i will not get it. granted i have a cheaper hmo plan. i always thought bcbs was way high, geha was a cheaper alternative. the saving grace for kaiser is the price and the all in one place service. no going here for labs hera for xray here for rx. a lot of people get a cheaper fehb plan and go to medicare B also. if u did that w bbcbs u would be paying an awful lot every month.evenwhen i add in my deductible for wife and i it doesnt come close to the bcbs yearly premium.

 

[Artfuldodger]

Ok, I'm retired now from the Federal Government under the old CSRS program. With the social security windfall elimination provision I will only receive $243.00 a month of my $631.00 that I should get from Social Security. My wife who is drawing on my social security will only get $121.00 a month. That's $364.00 a month for the both of us.

I will definitely keep my FEHB health plan through retirement. Still wondering if my wife & I should get medicare part B? It's $134.00 x 2 = $268.00 a month.
I could get a cheaper FEHB plan if I did get part B. I'm not getting the $364.00 a month yet but it sure would come in handy. I really hate spending it all on insurance.

 

[Artfuldodger]

In hindsight, based on my wife not working, I may should have switched to the FERS retirement. Then again social security benefits will drop by 20% in 2034. The average Social Security annuity alone is way less than my CSRS annuity but the matching TSP savings funds would have been nice.

 

[Jim Baker]

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?

We had the same question. The Benefits person with USDA recommended my wife take the part B medicare along with her FEHB plan. She will start Medicare in December.

I have been on Medicare A & B plus FHEB for over 2 years now . I have yet had to pay even a copay on medical including a 4 day stay in the Hospital last year.

 

[hipster dufus]

i myself have 29 qtrs of SS coverage. just started a part time gig w the county and am paying SSwill work to 67, full SS age for me< and then collect. what kind of check can i expect with the WEP ?i was hoping to get enough to cover medicare B. problem is i have to enroll at 64, even if i am working?i wouldnt mind the 264$ check less medicare B payment. i am presently keeping a cheaper FEHB plan and am in good health. if my health deteriorated i would get a more expensive FEHB plan. wife will get a small SS check of her own. i still believe CSRS is a better system, especially if u use your TSP option. i am making more now working part time with my pension and TSP. i also dont have to worry about earning too much and getting my SS cut like i would if i was FERS. i also just starting receiving VA medical coverage, though i am loathe to use it.

 

[Artfuldodger]

i myself have 29 qtrs of SS coverage. just started a part time gig w the county and am paying SSwill work to 67, full SS age for me< and then collect. what kind of check can i expect with the WEP ?i was hoping to get enough to cover medicare B. problem is i have to enroll at 64, even if i am working?i wouldnt mind the 264$ check less medicare B payment. i am presently keeping a cheaper FEHB plan and am in good health. if my health deteriorated i would get a more expensive FEHB plan. wife will get a small SS check of her own. i still believe CSRS is a better system, especially if u use your TSP option. i am making more now working part time with my pension and TSP. i also dont have to worry about earning too much and getting my SS cut like i would if i was FERS. i also just starting receiving VA medical coverage, though i am loathe to use it.

You'll need 40 quarters to qualify for social security. You should make it. I think you can get up to 4 credits a year. So you'd only have to work about 3 years. You only have to make $5,280.00 a year to get those 4 credits.
I have no way of knowing how much these 3 years will add to your 29 quarters but at least they will be added now instead of back in the day.

This WEP chart will show you the max your annuity can be reduced based on when you turn 62. There is also an online calculator but may be hard for you to do since you are planning on getting your extra quarters now.

https://www.ssa.gov/planners/retire/wep-chart.html

I would assume you'll get enough to pay for your medicare part B even with the windfall.

 

[Ruger#3]

Retired Military at age 65 lose their Tricare standard and are pushed onto Medicare and Tricare for life. These are not equivalent benefits. I have Medicare and use Tricare for my part D.