It seems unlikely that FEHB would allow higher charges for someone just because they’re over 65. Also, all FEHB plans have a catastrophic limit that puts a cap on annual qualified medical expenses.
I think the scenario is about someone who does not sign up for Medicare at 65 - part A or part B. But why would anyone not sign up for part A - it’s free. If you did not sign up for free part A then you deserve to pay more for your surgery. The real question is should you sign up for Part B and pay the monthly premium or just continue to rely on your FEHB. No easy answer, but this misleading explanation does not help.
@@janreitman881 Part A is free for the vast majority, but not everyone. Also, some may want to continue contributing to their HSA, a considerable tax benefit.
Our pleasure! We work with a lot of Federal employees who have been searching for information just like this online and are unsure what is accurate. Happy to provide information like this from licensed financial advisors who specialize in understanding federal benefits.
Nice - good info but a little short on depth. What about the CSRS retirees with Federal BC/BS ? Why would they need part B and pay that premium when they could stay with Federal BC/BS forever? Agree, that FEHB is the absolute best retirement health insurance available (even better than TRICARE; sorry military brothers!) but you need to discuss the fact that all FEHB plans are not equal.....would also suggest you do a video on how Medicare and FEHB work internationally
It probably wouldn't be cheaper than to keep FEHB and have both Medicare A and B. Advantage plans can be more costly. Declining FEHB at retirement is a permanent decision and you wouldn't be able to go back into it.
I want to continue to contribute to my FEHB HSA after I retire. Can I decline all medicare and continue contributing to my HSA throughout my 60's, and 70's ??
@@planyourfederalretirement I never want to sign up for any part of medicare. I am happy with FEHB plans, and my HSA income stream. I have read that you cannot have an HDHP with an HSA after you hit FRA.
I find all of these abbreviations extremely confusing and feel like I need to run to Google over and over just to make sense of the shortest paragraphs or videos on this crap. Not thrilled with this change as result🤷🏻♀️🙄
It seems unlikely that FEHB would allow higher charges for someone just because they’re over 65. Also, all FEHB plans have a catastrophic limit that puts a cap on annual qualified medical expenses.
I think the scenario is about someone who does not sign up for Medicare at 65 - part A or part B. But why would anyone not sign up for part A - it’s free. If you did not sign up for free part A then you deserve to pay more for your surgery. The real question is should you sign up for Part B and pay the monthly premium or just continue to rely on your FEHB. No easy answer, but this misleading explanation does not help.
@@janreitman881 Part A is free for the vast majority, but not everyone. Also, some may want to continue contributing to their HSA, a considerable tax benefit.
his is great information. Thank you!
Our pleasure! We work with a lot of Federal employees who have been searching for information just like this online and are unsure what is accurate. Happy to provide information like this from licensed financial advisors who specialize in understanding federal benefits.
Nice - good info but a little short on depth. What about the CSRS retirees with Federal BC/BS ? Why would they need part B and pay that premium when they could stay with Federal BC/BS forever? Agree, that FEHB is the absolute best retirement health insurance available (even better than TRICARE; sorry military brothers!) but you need to discuss the fact that all FEHB plans are not equal.....would also suggest you do a video on how Medicare and FEHB work internationally
Now throw in the PSHB into the equation for annuitants that got railroaded into the system.
Would it cheaper and possible to enroll only in Medicare A,b and advantage and decline FEHB, so you can save money instead of paying for both
It probably wouldn't be cheaper than to keep FEHB and have both Medicare A and B. Advantage plans can be more costly. Declining FEHB at retirement is a permanent decision and you wouldn't be able to go back into it.
I want to continue to contribute to my FEHB HSA after I retire. Can I decline all medicare and continue contributing to my HSA throughout my 60's, and 70's ??
Yes, however, you would be hit with a permanent penalty for signing up for both Medicare A and B late.
@@planyourfederalretirement I never want to sign up for any part of medicare. I am happy with FEHB plans, and my HSA income stream. I have read that you cannot have an HDHP with an HSA after you hit FRA.
I find all of these abbreviations extremely confusing and feel like I need to run to Google over and over just to make sense of the shortest paragraphs or videos on this crap. Not thrilled with this change as result🤷🏻♀️🙄