hi, Mark:
Thanks for sharing your insight.
so I got it that it depends on FEHB plans, that some of plan will be secondary to Medicare B even one is still employed post 65.
I totally agree that taking both FEHB and Medicare A&B after retirement help control expenses.
happy retirement to you as well.
-----Original Message-----
From: Mark Morrison mark3m@swbell.net [TSP_Strategy] <TSP_Strategy@yahoogroups.com>
To: TSP_Strategy <TSP_Strategy@yahoogroups.com>
Sent: Wed, Sep 5, 2018 7:52 am
Subject: [TSP_Strategy] Re: Medicare Disadvantage
I worked to age 68 while signing up for Medicare part A at the age of 65. There is no reason not to sign up for part A. It costs nothing and covers only hospitalization. In fact I was hospitalized for surgery while I was still employed at age 67 and part A picked up my entire hospitalization copay as secondary insurance. All the while FEHB was primary.
I picked up part B at age 69 after retiring at age 68. That is when part Medicare part B became primary and FEHB became secondary. FEHB becomes secondary when one picks up part B, not before. If one were to happen to pick up part B before retiring it would become primary with FEHB secondary even thou gh still employed.
These days with part B primary and my FEHB secondary I have no medical expenses except for prescription drugs which are covered in part by my FEHB. With FEHB + Medicare B all copays, coinsurance, and deductibles are covered. I don't know if this is true for all FEHB plans but it is for my MHBP and some others. Of course my medical insurances (FEHB + Medicare part B) are medical expenses and are a pretty good chunk of change each month. But my medical insurance bill of about $280 per month is still lower than that of many folks who self-pay for insurance and still have copays.
Please remember if you work past age 65, are still carrying your FEHB, and have not signed up for part B yet you have 8 months t o sign up for part B post retirement to avoid the penalty of 10% per year for part B premiums. I suggest downloading Medicare form CMS-L564, Request for Employment Information, from the Medicare site. Take that form to your HR before leaving station and have them sign off on it to verify that you have had medical insurance while employed past age 65. Medicare requires you submit that form if signing up for part B after age 65 to avoid the penalty they impose for signing up after age 65.
Happy Retirement and good health !
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