Results 1 to 7 of 7

Thread: FEP Medicare Prescription Drug Program

  1. #1

    Default FEP Medicare Prescription Drug Program

    Hello Fellow TSP'rs, I recently received an automatic enrollment into the new FEP Medicare (Part D) Drug Program. As I understand the brochure provided this replaces our traditional FEP Mail Service benefits. I received my automatic enrollment yesterday. After reviewing the brochure info provided I didn't see any big improvement over the traditional FEP Mail Service benefits we already have. If you move quickly enough there is an OPT Out provision. Call the customer service number on the back of your FEP card and follow the phone tree. Has anyone else researched this new pharmacy benefit? Thoughts? Makes you wonder why BCBS supports this plan? I.E. What is in it for them?


  2.  
  3. #2

    Default Re: FEP Medicare Prescription Drug Program

    I opted out in Nov. It seems that it’ll save BCBS money when Medicare is the primary prescription plan. BCBS told me that it doesn’t affect my premiums. What they didn’t tell me was Medicare D would cost me $$. I couldn’t get a quote on that. I was instructed by Medicare that I didn’t need to get the “D” plan as long as my secondary has a prescription coverage already. Again, i believe “D” plan may be better for someone that uses prescriptions that are not covered or has a higher deductible. I don’t feel BCBS should automatically enroll us & then we should have to accept or opt out. Although it may help someone that may need it & is not aware of better coverage. It does make you wonder they way they went about this too.

  4.  
  5. #3

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    12,198

    Default Re: FEP Medicare Prescription Drug Program

    I wonder if it has to do with trying to reduce the cost of drugs for Medicare.
    May the force be with us.

  6.  
  7. #4

    Join Date
    Jun 2004
    Location
    Boiled Peanut, Georgia, USA
    Posts
    76,603

    Default Re: FEP Medicare Prescription Drug Program

    All of a sudden they seem to want more MONEY for Medicine. I don't like this, what's happening here?



  8.  
  9. #5

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
    Posts
    12,198

    Default Re: FEP Medicare Prescription Drug Program

    Thanks Scout.
    Went back and read the letter dated 11/27 that I got a few days ago. It doesn't say you can opt out, but I will call next week. If they go back to my 2021 taxes, I'm guessing I will have to pay the IRMAA charge. I was working full time as a contractor for NASA and getting my pension until I retired (again) in June of 21.
    May the force be with us.

  10.  
  11. #6

    Default Re: FEP Medicare Prescription Drug Program

    Quote Originally Posted by nasa1974 View Post
    Thanks Scout.
    Went back and read the letter dated 11/27 that I got a few days ago. It doesn't say you can opt out, but I will call next week. If they go back to my 2021 taxes, I'm guessing I will have to pay the IRMAA charge. I was working full time as a contractor for NASA and getting my pension until I retired (again) in June of 21.
    Too little information to make a reasonably good decision. Also, one other thing the Opt out provision is an individual choice ie. Spouse must also opt out if they don't want to be covered under the Part D plan.

  12.  
  13. #7

    Join Date
    Jul 2016
    Location
    Texas
    Posts
    2,274

    Default Re: FEP Medicare Prescription Drug Program

    I don't know what the downside is other than with IRMAA but I'm really suspect of the whole medicare program but here is an explanation of the changes from last October https://www.govexec.com/pay-benefits/2023/10/what-federal-annuitants-need-know-about-medicare-part-d-2024/391579/

  14.  

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
S&P500 (C Fund) (delayed)
FEP Medicare Prescription Drug Program
(Stockcharts.com Real-time)
DWCPF (S Fund) (delayed)
FEP Medicare Prescription Drug Program
(Stockcharts.com Real-time)
EFA (I Fund) (delayed)
FEP Medicare Prescription Drug Program
(Stockcharts.com Real-time)
BND (F Fund) (delayed)
FEP Medicare Prescription Drug Program
(Stockcharts.com Real-time)

Yahoo Finance Realtime TSP Fund Tracking Index Quotes