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Federal Retirees


For those approaching retirement as well as the currently already retired, here is a forum to share ideas and thoughts and exchange questions and answers.


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Jdbkoh  
#1 Posted : Monday, November 16, 2020 6:11:39 PM(UTC)
Jdbkoh

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To Quote EPP Benefits Statement "To continue health insurance coverage in retirement you must retire on an immediate annuity and have been covered for the 5 years immediately before retirement"

I will be 62. I will have more than 5 years in same plan.

Question is: Will my payments be the same. I pay for individual, $53.14 a PP. Agency pays $159.44. Will this continue as the same?

I wish to add my spouse this year to my insurance plan 6 months before I retire. Can she remain on plan? If not, what are options and how can I retain her on my plan. I will be paying 114.26 per PP for 2 people as end of Open Season.
TheRealOrange  
#2 Posted : Tuesday, November 17, 2020 5:01:31 AM(UTC)
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Originally Posted by: Jdbkoh Go to Quoted Post
Question is: Will my payments be the same. I pay for individual, $53.14 a PP. Agency pays $159.44. Will this continue as the same?

I wish to add my spouse this year to my insurance plan 6 months before I retire. Can she remain on plan? If not, what are options and how can I retain her on my plan. I will be paying 114.26 per PP for 2 people as end of Open Season.

From OPM: "You will pay the same premium as you paid while you were an employee. However, annuitants are paid on a monthly basis so you will pay them at the monthly rate. You may see an increase if you are employed by an agency, such as the Post Office, that contributes additional money towards the total premium. Retirees receive the same government contribution as most Federal employees." I believe that your wife would be able to remain on the plan, but others here may not more. For her to keep the plan if you predecease her, you will need to leave her a survivor annuity of some amount.
GWPDA  
#3 Posted : Tuesday, November 17, 2020 7:01:30 AM(UTC)
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https://www.opm.gov/heal...formation/compare-plans/

All the details are found at this link (and its fellows). The rates of course went up this year, but by a matter of a couple of bucks, not much. As always, you can change your policy at the next open season.
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