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Retirement Planning


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onthecoast  
#1 Posted : Monday, November 4, 2019 2:37:10 PM(UTC)
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I am planning to retire under CSRS either on February 3 or February 29 of 2020. I will have 40 years in at the time including unused sick leave and temporary time which has been paid back. I am enrolled in FEHB (Single) and have been for well over 5 years.

My wife works for a private company which provides her health insurance which, shockingly, appears to be better than my BCBS Standard plan through FEHB (comparable coverage with an OOP max of $1,500 including $500 Deductible and $1,000 coinsurance) and, due to a wellness credit she has earned, costs her only $70 per month. I plan to maintain my FEHB enrollment when I retire but if I put my wife on my plan, we will be paying out $180 more per month for health insurance premiums than we are paying now.

Can I add my wife to my plan at any time due to a QLE (such as losing her employer coverage due to leaving her job), at any time after I retire or must I add her within a certain period of time after retiring?

I appreciate your help!
postalvet  
#2 Posted : Monday, November 4, 2019 2:49:30 PM(UTC)
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Originally Posted by: onthecoast Go to Quoted Post
I am planning to retire under CSRS either on February 3 or February 29 of 2020. I will have 40 years in at the time including unused sick leave and temporary time which has been paid back. I am enrolled in FEHB (Single) and have been for well over 5 years.

My wife works for a private company which provides her health insurance which, shockingly, appears to be better than my BCBS Standard plan through FEHB (comparable coverage with an OOP max of $1,500 including $500 Deductible and $1,000 coinsurance) and, due to a wellness credit she has earned, costs her only $70 per month. I plan to maintain my FEHB enrollment when I retire but if I put my wife on my plan, we will be paying out $180 more per month for health insurance premiums than we are paying now.

Can I add my wife to my plan at any time due to a QLE (such as losing her employer coverage due to leaving her job), at any time after I retire or must I add her within a certain period of time after retiring?

I appreciate your help!


as far as I know during open season you can pretty much do what you asked.

other then open season I would ask here; https://forum.federalsou...lt.aspx?g=topics&f=6



Postal employee (retired) 38 yrs who helps even if some do not believe me! I was a Steward, officer & trouble maker. Just Sayin'
Raoul  
#3 Posted : Friday, November 8, 2019 2:14:22 PM(UTC)

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Originally Posted by: onthecoast Go to Quoted Post
...
Can I add my wife to my plan at any time due to a QLE (such as losing her employer coverage due to leaving her job), at any time after I retire or must I add her within a certain period of time after retiring?...

That is a QLE. Health coverage rules are fair and reasonable. Do not wait until the next Open Season to act.
You have a sixty day window from the QLE date, whenever that is (QLE date is spouse ending other coverage) to switch to Plus One or Family.

If the sixty day rule was not present, some people would go perhaps months or years without paying the larger premium until medical expenses were about to be incurred.

When I retired I still had a child <26 so I stayed under the Family Plan.
When she got a job with health benefits, that was a QLE and I happily switched to Self.
She leap frogged thru four jobs over the next five years, losing benefits, getting benefits back... I had QLEs out the Ying-Yang.
Each instance, required only a employer statement with an effective date.




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postalvet  
#4 Posted : Friday, November 8, 2019 5:11:45 PM(UTC)
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Originally Posted by: Raoul Go to Quoted Post
Originally Posted by: onthecoast Go to Quoted Post
...
Can I add my wife to my plan at any time due to a QLE (such as losing her employer coverage due to leaving her job), at any time after I retire or must I add her within a certain period of time after retiring?...

That is a QLE. Health coverage rules are fair and reasonable. Do not wait until the next Open Season to act.
You have a sixty day window from the QLE date, whenever that is (QLE date is spouse ending other coverage) to switch to Plus One or Family.

If the sixty day rule was not present, some people would go perhaps months or years without paying the larger premium until medical expenses were about to be incurred.

When I retired I still had a child <26 so I stayed under the Family Plan.
When she got a job with health benefits, that was a QLE and I happily switched to Self.
She leap frogged thru four jobs over the next five years, losing benefits, getting benefits back... I had QLEs out the Ying-Yang.
Each instance, required only a employer statement with an effective date.






do you have links to your statements?


Postal employee (retired) 38 yrs who helps even if some do not believe me! I was a Steward, officer & trouble maker. Just Sayin'
Raoul  
#5 Posted : Monday, November 11, 2019 6:25:30 AM(UTC)

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Originally Posted by: postalvet Go to Quoted Post

do you have links to your statements

No, just relaying my situation between 2011 and 2016.
Rules may have changed since then but, that would be pretty radical.
I switched back and forth between Family/Self while in retirement, as needed, when needed, multiple times,
based on documented insurance loss/gain of a family member.

Just answering a posted question.
Of course one must pursue due diligence in such matters.
I would not make Life decisions based on what you or I might type in this forum.



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postalvet  
#6 Posted : Monday, November 11, 2019 10:38:19 AM(UTC)
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Originally Posted by: Raoul Go to Quoted Post


Just answering a posted question.
Of course one must pursue due diligence in such matters.
I would not make Life decisions based on what you or I might type in this forum.





exactly my point.

by clarifying your answer you helped many readers.
Postal employee (retired) 38 yrs who helps even if some do not believe me! I was a Steward, officer & trouble maker. Just Sayin'
Raoul  
#7 Posted : Monday, November 11, 2019 2:27:53 PM(UTC)

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Yeah, that quote should be a header across the entire Federal Soup Forum.
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smithandjones  
#8 Posted : Tuesday, November 12, 2019 9:48:35 AM(UTC)

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Qualifying Life Events are listed here:

https://www.opm.gov/heal...eference/enrollment/#qle


Check out 1M

thanks 1 user thanked for this useful post.
postalvet on 11/13/2019(UTC)
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