Medicare and Health Care

30 days away from 65. Retired from Feds in 2011. Kept FEBP with BCBS Basic. So...should I sign up for Part B and keep FEBP, or not get Part B since I have FEBP. Or drop FEBP and get Part B. Has anyone analyzed this? Pros cons? Thanks.

Thanks much.

Please take note that HoosierDaddy said "BCBS BASIC". I kept the BCBS Standard for my own personal reasons.

I just applied for Medicare and took pt B. There's a 7 month window to apply. Your birth month, Plus or Minus 3 months.
If you're still working at that time, you'd have to ask medicare folks. 1-800-MEDICARE (1-800-633-4227) I don't think you'll be required, but double check.
For every 12 months you delay pt B if you can get it at age 65, there's a PERMANENT 10% penalty that will never go away. 24 months = 20%, etc.
Currently, pt B is ~ $144/month but there's IRMAA which forces higher paid retirees to pay more. I was pushed up to $202.40 per month, and I'm single.

I'd keep BCBS, or whatever you chose. It's technically not a "Supplement" (think AARP plan) like many many being sold on the secondary market, but it's more like Secondary Ins.
If Medicare does not pay for XYZ services, you're BCBS will pay for it as they have during your working career as I'm told. You also get the benefit of prescription drugs.
You'd have to sign up for pt D and pay for it if you want prescription drug insurance.

There are others who use AETNA, etc that also get the reimbursement from pt B, according to them.
Also note that, there are certain pitfalls to be aware of, in that BCBS Basic may not cover you're Dr if they're not in the BCBS type listing.
Some have also said it's not usable outside of the USA, but I don't know about that personally.

Edited by user Monday, August 31, 2020 9:17:01 AM(UTC)  | Reason: IRMAA info

Plan costs kept low when fehb retiree has Part B, why? The answer is Medicare pays about 80% of medical care for Part B services, leaving the plan to pay only 20%. Without Part B, the Plan likely pays much higher than 20% for the same services (bc Medicare is not paying anything).

In the recent thread which asked has the cost of Part B been worth it to you?, Walt Francis is quoted saying having both insurances overall is extra costly (to the entire healthcare system) as likely having to cover 'unnecessary care.' I think the point here is, if the retiree is not required to pay a copay, he/she is more apt to obtain services, so the person possibly consumes more. If, on occasion, services aren't required or are counterproductive, for example, if mistakes occur, the services are yet more expensive (for the entire healthcare system). If memory services, the amount of extra cost was estimated to be 2 billion a year or so, in that thread.

Edited by user Friday, September 4, 2020 4:29:37 PM(UTC)  | Reason: Clarification

Is there a future FEHB Medicare Advantage Plan in the works?

Should Federal Annuitants Enroll in Medicare Part B after Age 65? Medicare Part B will rarely save you nearly as much money as you spend on the Part B premium. This is because the cost sharing for physician visits and tests in almost all FEHB plans is already so low. And as we discuss below, for those who pay more for Part B than the normal premium, it is almost always a bad buy in purely financial terms.

As a financial matter, however many years you elect to do without Part B, you will be money ahead for approximately the first five or six years after joining or rejoining (those who start out paying the higher income-tested premium well be much more money ahead). After that, the penalty will outweigh your earlier savings (except for those who were once above, but now fall below, the income-tested premium).


https://www.checkbook.or...care-part-b-after-age-65

Edited by user Wednesday, October 21, 2020 6:07:17 AM(UTC)  | Reason: Not specified

The problem with using BCBS Basic with Medicare is that it covers nothing out of network. What if youare traveling and the local hospital isn't in network? Is it worth the risk?

GEHA Standard, GEHA High, and Aetna Direct provide the same coverage in and out of network which makes it more like a Medigap plan, but better because it covers some things that Medicare doesn't cover. BCBS Standard is probably overkill with Medicare unless you benefit from their formulary over the other options.

My spouse turned 65, I am still working and we have FEHB BCBS basic. We did alot of research and elected not to take medicare part b because we will continue FEHB coverage.

There are many prescription discount plans in our area that are cheaper than FEHB BCBS prescription rates. One prescription we have is $18 under FEHB BCBS plan and is $3 with a local store discount card plan. Our durable medical equipment costs under the FEHB BCBS were just so high we were forced to look for other options. We are paying far less with a cash discount option now. The copays for doctors visits with FEHB BCBS are just too costly. We get nailed for a copay to have blood drawn that cost more than if we go with a hospital lab discount card program to pay cash.

We are finding we have to look at the costs to make choices when FEHB or other local programs result in lower prices. Due to Covid the pharmacy mail order options we found were more gimmick. In several cases the pharmacies never submitted the prescriptions to FEHB BCBS and we paid full price.

Its buyer beware in healthcare where you need to put in the time to research, ask about optional discount programs. For 2021 FEHB we are going to look at major medical coverage only to patch together other discount programs to get by until I retire. Frankly having FEHB we have run into providers that resent we are federal workers where we caught overbillings. We are far more cautious where we go for healthcare and less likely to use FEHB if we can avoid it.

Check out the upgraded Aetna Federal Medicare Advantage Plan for 2021. They’ve added up to $1800 in Medicare Part B premium rebates to a plan that has VERY low monthly premiums, low RX costs, and essentially no other copays, coinsurance or deductibles. It also manages to keep Rx copays from rising during the ““donut hole” stage of prescription benefits. And it has extra freebies common to other Medicare Advantage plans. Best yet, it’s part of FEHB, so you don’t have to suspend FEHB coverage prior to signing up. Last week, Aetna’s VP for federal health plans explained it all on Federal News Network’s “ For Your Benefit” show.

Edited by user Friday, November 6, 2020 9:11:18 PM(UTC)  | Reason: To replace “premiums” with “copays”.