Re: [TSPStrategy] Trickiest Retirement Decision

yes and the BCBS  mail order program excellent, I have to take thyroid cannot take generic the cost is pricey but through their mail order prescription program they give me the brand name at the generic price.  

You will not necessarily need that but in my case it was a very positive option.

On Sunday, June 13, 2021, 01:04:58 PM MST, Sheila Baer <smbaer@comcast.net> wrote:

I did exactly the same… have had BCBS Basic for years, and it coordinates beautifully with Medicare, which is now primary, with BCBS secondary. Even inpatient hospital stays cost nothing! I actually prefer the BCBS Basic over Standard; no deductible, great Rx coverage, etc.

On Jun 13, 2021, at 2:57 PM, Mimi Bruce via groups.io <hilgard50=yahoo.com@groups.io> wrote:

One more thing do not go with a Medicare advantage plan.  They sound nice, but god forbid you really get sick having Medicare as primary and an FEHB plan allows you the ability to go wherever you need.  Do not get pinned in with what seems to be an all inclusive plan with all this good stuff, they tell you that you can request going to a facility or doctor outside their advantage plan but try dealing with a  bureaucracy when you are fighting cancer.  Do yourself a favor and get Medicare Primary and select an FEHB plan (not the high option) to fill the hole.  I recall an article that Tammy Flannigan wrote years ago she used BCBS basic option in her example.  We have been with BCBS for years and that is what we will stick with but  Geha could work.  I would call the carrier and find out how they work with Medicare primary, I made the call to BCBS and they explained how they worked together very informative. 

Again my opinion based on my personal experience. 

On Sunday, June 13, 2021, 12:41:41 PM MST, MD2018 via groups.io <rlkane.wc=verizon.net@groups.io> wrote:

Has anyone in this group tried Option 3 for Medicare? In this plan you find a FEHB insurance which reimburses you for Med part B premium and provides wraparound coverage.

I am retired and have GEHA and my wife (is turning 62) has to choose whether or not to keep Med part B, I'm not eligible yet) and so need to keep FEHB (GEHA) +1,  but am not sold on also paying for Med Part B. But Option 3 might be a viable option. 

If anyone has tried Option 3 with FEHB, which Insurance(s) option provides reimbursement for Part B ? 

Richard

On Jun 13, 2021, at 1:46 PM, Ardon Kharpuri Mukhim via groups.io <akharpuri=yahoo.com@groups.io> wrote:

Option 6: Move to Canada...  JK....

On Sun, Jun 13, 2021 at 5:52 AM, sarah_oz via groups.io

<sarah_oz=yahoo.com@groups.io> wrote:

The Trickiest Retirement Decision You'll Have to Make

By Tammy Flanagan

June 10, 2021

Life is full of choices. As retirement approaches for federal employees, there are issues like picking the best date, choosing when to start taking Social Security and deciding how much life insurance to keep. 

None of these decisions seem to bring as much confusion and concern as the choice of whether or not to enroll in Medicare Part B.

There are a few reasons why this is true, including:

• Your Federal Employees Health Benefits Program coverage will continue even if you elect not to enroll in Part B. 
• Part B can be expensive. The standard premium for 2021 is $148.50 per person per month. If you and your spouse are enrolled, the cost is an extra $297 a month out of your retirement income. This is in addition to your FEHBP premium.
• Some high-income retirees will pay an income-related monthly adjustment amount, or IRMAA. 

So, with those issues in mind, what are your choices?

Option 1: Continue FEHBP and ignore Part B. Most people who do this will still get Medicare Part A (hospital insurance) at no charge.

Option 2: Enroll in Part B and pay the additional premium, with no change to your FEHBP coverage. Check Section 9 of your FEHBP plan brochure to see how your plan coordinates with Medicare. (If you are covered by TRICARE, you need to have Part B coverage in order to keep your TRICARE benefits.)

Option 3: Enroll in Part B and change your FEHBP coverage. Find an FEHBP plan that provides a reimbursement of some or all of your Part B premium and provides "wraparound" coverage with Medicare. That means when Medicare is the primary payer for your medical care, you will incur very little, if any, out of pocket expense. You might save more than it costs to enroll in Part B, or at least pay less in fixed costs than you would pay had you decided not to enroll in Part B. 

Option 4: If you are covered by current employment health insurance, you can delay Part B enrollment without penalty and sign up during a special enrollment period that follows your retirement (or your spouse's retirement if you are covered under their health plan and they are still employed carrying insurance through their employer).

Option 5: Delay Part B for a year or more, saving the cost of Part B, but paying the surcharge of 10 percent of the standard premium for every 12 months that you delay enrollment. If you are enrolled in a high deductible health plan and you're contributing to a health savings account, you can continue doing so past age 65 if you are not enrolled in Medicare A or B.

If you're considering this option, keep two things in mind: First, you'll have to pay the surcharge for the rest of your life even though your income may have dropped. Second, if you experience a serious health problem during the years you delayed enrollment, you could have saved as much as the Part B premium would have cost.

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By Tammy Flanagan

June 10, 2021

https://www.govexec.com/pay-benefits/2021/06/trickiest-retirement-decision-youll-have-make/174650/