Coming up on Medicare... what to do

[jdeacon]

If you plan on traveling outside the United States, medicare does not cover you whereas most FEHB plans do. That is why I have kept my BCBS at the less expensive basic level. With the annual $800 rebate per person for Medicare participants. I found it to be worth the piece of mind.

[jhonalbert]

Yes. If you are receiving benefits, the Social Security Administration will automatically sign you up at age 65 for parts A and B of Medicare.

[bamablue]

This is great information. I'm in a different boat, since I have my primary medical care through Tricare and individual care through the VA. I've got a couple of years before I need to make this decision, but it's never too early to start planning.

[bloobs]

If you plan on traveling outside the United States, medicare does not cover you whereas most FEHB plans do. That is why I have kept my BCBS at the less expensive basic level. With the annual $800 rebate per person for Medicare participants. I found it to be worth the piece of mind.

@jdeacon - may i ask how much you pay for BCBS in retirement, relative to what you paid pre-retirement? do you get to keep medicare too?

[jdeacon]

I only have insurance on myself with BCBS basic. It costs about $1,100 per year after the $800 rebate for keeping Medicare. There was no change in cost for the BCBS premium between pre and post retirement, since OPM picks up 3/4th of the premium after retirement just like before. BTW, I retired at the end of March 2021. I decided that the annual $1,100 difference in retirement pay was worth the piece of mind when I travel overseas. The 2021 COLA covered it as a matter of fact! Having BCBS also give me additional piece of mind here in the US.

[bloobs]

I only have insurance on myself with BCBS basic. It costs about $1,100 per year after the $800 rebate for keeping Medicare. There was no change in cost for the BCBS premium between pre and post retirement, since OPM picks up 3/4th of the premium after retirement just like before. BTW, I retired at the end of March 2021. I decided that the annual $1,100 difference in retirement pay was worth the piece of mind when I travel overseas. The 2021 COLA covered it as a matter of fact! Having BCBS also give me additional piece of mind here in the US.

Thanks

[evilanne]

This is great information. I'm in a different boat, since I have my primary medical care through Tricare and individual care through the VA. I've got a couple of years before I need to make this decision, but it's never too early to start planning.

With Tricare, you are required to sign up for medicare Part B when eligible (not sure if there is an exception for if you are still working), but Tricare for life doesn't cost anything once you fall under Medicare.

[evilanne]

See also viewtopic.php?f=19&t=18902 entitled Should Federal Retirees Take Medicare Part B?