I know next to nothing about FERS, FEHB, and all the other acronyms associated with being a Federal employee. All I know how to do is teach others how to think about their future retirement and come to terms with what has to happen before they start their transition. If you Google my name, you can find a way to reach me if that would help in any way. Tony Kendzior
James,
I believe as a reservist you have Reserve Select rather than TRICARE Prime, there is an annual fee you pay. At age 65 you have to enroll in Medicare part B and then there should be no cost as it converts to TRICARE--this applies to both you and your wife. You have to have to be enrolled FEHB 5 years to take it into retirement.
TRICARE is secondary to FEHB. FEHB is secondary to Medicare. If you look at your FEHB plan, they should outline how they interact with Medicare. My mother has all three and rarely has to pay anything, TRICARE is usually good for medication and if there is an issue, she can go to the base to get it filled for free.
As far as international travel, I believe most Fee For Service plans will cover you overseas but you really need to look at the plans. I still remember BCBS representative wanting to transfer me to their international division when I called about a claim in New Mexico years ago
James48843, replied to your post but in an effort not to clog up this thread posted it under Military Tricare. Might be time to start a retirement story thread to share your experiences.
PO
Medicare A is paid for from resources somewhere in the system. Medicare B is either deducted from your monthly benefit or if you have deferred your benefits, you pay from your bank account. The problem for some folks not signing up when they become eligible is you have a health issue and there's no open enrollment. If you have the money, I encourage you to sign up as soon as you are eligible, and forget about it. Part A is going to be your primary carrier for the expenses covered by Medicare Part A. Not sure if my reply helps you but...
Bottom line, (you don't have to know any acronyms) as Fed retirees we get to keep our health insurance, never goes away, no reductions in coverage, same insurance as when we worked. So, if we keep it, do we need Medicare Part B? Medicare part B cost (a premium) would this equate to paying twice for coverage we already have? I think it is, but just not sure...
This is exactly my thought and question, since we get to keep our insurance why is everybody talking about buying Medicare part B and C? Keeping our insurance is not exactly cheap in fact it's more then when we worked because its not paid pre-tax, I believe. I definitely don't want to pay for two insurance policies if I only need one, especially on a fixed income. So I'm confused. I have met quite a few people that took federal jobs in the last 5 years of their careers just so they could keep the insurance after they retired.
Last edited by tom4jean; 03-28-2019 at 06:04 AM.
Expected FERS Retirement; December 2028
Thru-hike the Appalachian trail spring 2029
Double post...deleted.
Expected FERS Retirement; December 2028
Thru-hike the Appalachian trail spring 2029
Medicare Part A is free, you have been paying into it for years and it will pay 80% of your medical bills. Part B currently costs $135 a month depending on your income and will pay 80% of your doctor bills and in most cases cover most if not all of your copays. Part C is the optional supplemental plans that may or may not be less expensive then your FEHB coverage and may or may not have better coverage. If you go with a Part C you need to suspend your FEHB not quit. Part D is prescription drug coverage.
Depending on your health insurance you may be required to pick up Part B.
If you do not have a lot of doctor bills Part B very well may not be an option, but remember if you do not pick up Part B when eligible and decide to pick it up a few years later then there will be a large penalty. If you feel you do not need Part B and do not plan to pick it up at all then you can save $135/month
May the force be with us.
I would best phrase it as a quality of life issue, having part B medicare and your FEHB together and you are prepared to weather the storm of old age medical trials and tribulations. Also everyone's medical needs differ but as you grow older they come closer to being the same. MHO
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