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Thread: Retirement Talk - 03/19/19

  1. #13

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    Default Re: Retirement Talk - 03/19/19

    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

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  3. #14

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    Default Re: Retirement Talk - 03/19/19

    Quote Originally Posted by rakendzior View Post
    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
    Welcome to our world Tony. Any input is valuable.

    PO

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  5. #15

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    Default Re: Retirement Talk - 03/19/19

    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

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  7. #16

    Default Re: Retirement Talk - 03/19/19

    Quote Originally Posted by evilanne View Post
    James
    I still remember BCBS representative wanting to transfer me to their international division when I called about a claim in New Mexico years ago
    Love it! Certainly doesn't surprise me!

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  9. #17

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    Default Re: Retirement Talk - 03/19/19

    James48843, replied to your post but in an effort not to clog up this thread posted it under https://www.tsptalk.com/mb/retiremen...y-tricare.html. Might be time to start a retirement story thread to share your experiences.

    PO


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  11. #18

    Default Re: Retirement Talk - 03/19/19

    Quote Originally Posted by clester View Post
    So, to sum up your post. If you have BCBS Basic (like me) you should probably take Medicare A and B but not D. Whats the cost for Medicare A and B for 2 people? $600 rebate sounds good too so include that. Thanks for your input
    Maybe someone has already mentioned it, but if you do not signup for medicare part B at age 65 the price increases each and every year you wait to signup after 65. also with BCBS and Medicare part B there are no copays for all visits to doctors.


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  13. #19

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    Default Re: Retirement Talk - 03/19/19

    Quote Originally Posted by Buffalo_Nickle View Post
    Maybe someone has already mentioned it, but if you do not signup for medicare part B at age 65 the price increases each and every year you wait to signup after 65. also with BCBS and Medicare part B there are no copays for all visits to doctors.
    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...

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  15. Default Re: Retirement Talk - 03/19/19

    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...

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  17. #21

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    Default Re: Retirement Talk - 03/19/19

    Quote Originally Posted by zedlep View Post
    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 07:04 AM.
    Expected FERS Retirement; December 2028
    The Avatar is my Hammarlund SP-600 1950's Navy Communications Receiver.
    (Although, I was in the Army)

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  19. #22

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    Default Re: Retirement Talk - 03/19/19

    Double post...deleted.
    Expected FERS Retirement; December 2028
    The Avatar is my Hammarlund SP-600 1950's Navy Communications Receiver.
    (Although, I was in the Army)

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  21. #23

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    Default Re: Retirement Talk - 03/19/19

    Quote Originally Posted by tom4jean View Post
    I've met many people that came into federal government jobs for the last 5 years of their career just so they could get the insurance and keep it after they retired. I'm confused too as to why you would want to spend a lot more money to pay for Medicare part b or c when you're going to be paying the premiums on your health insurance in retirement on a fixed income that you had as a federal worker, (also taxed in retirement) that could prove to be very expensive.

    Sent from my Pixel 2 XL using TSP Talk Forums mobile app
    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.

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  23. #24

    Default Re: Retirement Talk - 03/19/19

    Quote Originally Posted by zedlep View Post
    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...
    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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