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Has anyone else here experienced this problem or have advice ? As a retired federal employee I kept my FEHB health insurance. Now I decided to enroll in Medicare Part B. And am facing late enrollment penalty.
I was told I could defer Medicare part B without penalty as long as I kept the FEHB insurance.
Has anyone else here experienced this problem or have advice ? As a retired federal employee I kept my FEHB health insurance. Now I decided to enroll in Medicare Part B. And am facing late enrollment penalty.
I was told I could defer Medicare part B without penalty as long as I kept the FEHB insurance.
My understanding is you can delay as long as you keep BCBS and you are still working. Otherwise it costs 10% more per year you delayed.
You might chat with OldFed as she is going without Medicare and just using BCBS.
Has anyone else here experienced this problem or have advice ? As a retired federal employee I kept my FEHB health insurance. Now I decided to enroll in Medicare Part B. And am facing late enrollment penalty.
I was told I could defer Medicare part B without penalty as long as I kept the FEHB insurance.
Quote:
Originally Posted by Wile E. Coyote
My understanding is you can delay as long as you keep BCBS and you are still working. Otherwise it costs 10% more per year you delayed.
That is correct. Coverage under retiree plans is not considered creditable.
Has anyone else here experienced this problem or have advice ? As a retired federal employee I kept my FEHB health insurance. Now I decided to enroll in Medicare Part B. And am facing late enrollment penalty.
I was told I could defer Medicare part B without penalty as long as I kept the FEHB insurance.
Whoever told you that seriously misguided you. That's never been the case.
obviously everyone's situation is different. I opted out of b because it would cost me more than I'd benefit even with essentiaily no OOP. as of right now, I just don't get sick.
BCBS basic has a very manageable out of pocket max FOR ME. this isn't going to be true for everyone. it also has no deductible.
now you have to decide if the penalty will still be worth paying and the sooner you decide, obviously the better unless you're getting into the range where it's going to be way more than the first year 10% but just having FEHB isn't the worst thing in the world.
some retirees hedge bets and enroll because of the worry FEHB will go away for annuitants. but if the USPS model is any guide that may be unwarranted. from what I can tell USPS annuitants are getting a special enrollment period in which the penalty will be waived and people grandfathered into part b if not previously enrolled.
Insurance is designed to be purchased before you need it.
I have insurance. but, thanks?
"BCBS basic has a very manageable out of pocket max FOR ME. this isn't going to be true for everyone. it also has no deductible."
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