FEHB and Medicare | Do I Need Both as a Retired Federal Employee?
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- เผยแพร่เมื่อ 26 ส.ค. 2024
- Are you trying to figure out if you need Medicare if you have Federal Employee Health Benefits (FEHB) coverage? Do you know when you need to sign up and what options you may have if you are still working as a Federal Employee? Do you know what options you have if your spouse has FEHB coverage? In this video, we discuss the different options and retirement planning opportunities you may have as a Federal Employee approaching 65 years young.
You can check out the full article here: plan-your-fede...
Leave a comment below if you have any other questions about Medicare and FEHB coverage as you approach 65 years young!
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Until next time, happy planning!
Micah Shilanski, CFP®
#PlanYourFederalRetirement #FEHB #Medicare
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DO I NEED BOTH?????
The video didn't address what the Headliner is! Which is, does a federal employee need, or should keep, both their FEHB & Medicare?
Totally agree!
The title is a bit deceiving as the video does not really explain whether you should have both. Medicare part B is not necessary if you have FEHB but some people have both. What are the pros and cons? That's what we were looking for.
Thank you for your question. Please send us your contact information on this form plan-your-federal-retirement.com/submit-questions/ so we can have one of our advisors contact you and provide you with detailed information regarding your question.
The PYFR Social Media Team
@@planyourfederalretirement Can you address the question from Joe E above, at least in general, on a video? Some of us don't want to be contacted personally.
can. you pls stop the music in the background. it makes it hard to hear and to focus on what is being said. thank you for considering this request.
Great video content, unfortunately the background music is extremely distracting and loud.
Thanks, confirms information from other sources. I have Tricare and was told I could enroll in FEHB before I retire then suspend FEHB upon retirement. Sometime in the future if I should have an issue and Tricare doesn't cover expenses, I could activate FEHB to cover those expenses. How and when would I activate it and does it have to stay active or can it be suspended again?
You can delay enrolling in medicare if your spouse is still working and are covered under their FEHB plan.
Very nice and informative video presentation. I understand that you can delay signing up for Medicare if you are still working after age 65 and have 8 months to sign up after separation. So here is my question. Since you have an 8 month window to sign up for Medicare after separation, what happens to social security. Can you sign up for SS and receive payments buy delay signing up for Medicare to utilize the 8 month window?
One thing I'm confused about.. When I retired from Postal Service (at 56) I took my Federal Blue Cross Blue Shield with me....and still have it. (I am civil service, so I do not collect social security. I have a pension.) Now that I'm turning 65 in December, should I KEEP MY FEDERAL BLUE CROSS, or should I drop it and replace it with Medicare? I have already signed up for Part A effective December 1.
Yes, that is what I thought this video would address, based on the title of it. BIG mislead!
As a federal employee FEHB is my primary insurance and Medicare is secondary. Under FEHB, I have very good prescription coverage under a mail order option. After I retire and make Medicare primary, do I need to purchase Part D for prescription benefits? Or can I just continue with my FEHB drug coverage?
The question was not answered. Do I need both?
I have Kaiser FEHB(Federal Employee Health Benefit) insurance.
If I sign up for Social Security and get medicare Plan A, my FEHB stays the same meaning that I keep my doctor, keep my same medical coverage, my Kaiser Dr still calls the shots etc. so what does medicare plan A actually do for me?
I have a basic question: does my registration for medicare (A, B, D) covers my wife also or do we BOTH have to register and PAY for the Medicare parts that are no free?
I currently have Standard BCBS. Would it make sense to move to a less expensive FEHB plan at 65 when they start coordinating benefits?
Thank you for your question. Please send us your contact information on this form plan-your-federal-retirement.com/submit-questions/ so we can have one of our advisors contact you and provide you with detailed information regarding your question.
The PYFR Social Media Team
If you retire with FEHB and retire in a foreign country after the age of 62, what happens to your FEHB?
Thanks for the video Micah! Extremely helpful for me to learn more about Medicare!
I'm glad you liked it!
Thanks for the video. I will retire with 5 years in 2024 when I'm 65 1/2 years old. Will I be able to have FEHB coverage? Thanks for any reply.
You may be able to keep your FEHB because you will have met the eligibility for an Immediate Retirement (Age 62 with 5 years of service). You will just need to make sure you have been in FEHB for the last 5 years and elect to keep it on the retirement application.
Thank you!
You're welcome!
I am married to a retired Federal employee and we have FEHB coverage He is 64 this year. I will be 65 this Oct and still working but I am not covered by my employer..I am under my retired husbands plan. What do I do?
As long as you remain covered under your or your spouse's health insurance (FEHB), you can delay signing up for Medicare Part B at age 65.
@@planyourfederalretirement Thank you for the info. So my husband is retired adn we are both under FEHB. I am still working and plan to til 70. I am NOT on my employers health plan at all, but under my husbands FEHB. So...A few other questions 1. Do I still need to sign up for Medicare Part A at 65? That is a few months away.. 2. We have FEHB for retirement covering both of us, so when I retire then I sign up for medicare part B? Do I do it before I retire or is there a time frame ( I am NOT a federal employee)? 3. Lastly= what if something happens to my husband, do I get to keep the FEHB if he passes away? If so how do I pay premiums; as right now it is coming out of his pension? If he passess away and I lose FEHB what happens? If this is a concern, will I be penalized for not signing up for Part B and /or a medigap earlier? With my mother , we found out that pre=existing conditions are only waived the 3 months before and after your 65th birthday, so if you need a medigap later you may not qualify if you have ANY health issues. Is that true? I would rather have regular Medicare and NOT a medigap plan as my mothers was HORRIBLE when she fell and had a stroke. We want Medicare and FEHB as secondary, so what do I do at 65 in 2 months time? Ideas?
Can a retired federal employee suspend Medicare and only have FEHB?
You can cancel your Medicare Part B, but you can't suspend the coverage and come back to it later without paying penalties for doing so.
If I’m retired and covered under FEHB and I turn 65, do I need to enroll in Medicare and is it beneficial for me to enroll?
All the financial planning sessions I attended said you should keep both. They should basically cover 100% of your expenses between the two. The last one I attended, granted 10 years ago, said BCBS would waive your copays and deductables if you you have medicare. Don't quote me on that, worth checking into.
Enroll in Part A at least. It doesn't cost anything & will supplement your FEHB. Also, I think it's mandatory.
Ugh, the title is click bait
i AM RETIRED, CAN I SWITCH FROM FEHB - BCBS TO MEDICARE PART B?
You cannot "switch" from FEHB to Medicare Part B. You can either have both, or you would have to cancel your FEHB, which would mean you could NOT re-enroll back into FEHB in the future.
@@planyourfederalretirement--- I don't want both, and I'll cancel FEHB anyway because it's no use to me as of now!
...I just wanted to see if I could buy Medicare Part B (after canceling FHEB) without having to pay a penalty!
...I guess I need an appointment with SSA to find out!