Quote:
Originally Posted by Sweatman
To those who have reached Medicare age and also have access to FEHB (OPM Federal Employee Health Benefit), we'd appreciated feedback on your approach to retaining double coverage or your approach to coverage. A recent article which peaked my interest is quoted here:
""The last few years OPM is now allowing plans to offer another “pay only one premium” option through dual enrollment in a carrier’s own special MA plan as well as its FEHB plan. Under these arrangements, you actually remain enrolled in the FEHB plan, but simultaneously enroll in the unusually generous MA plan sponsored by the carrier. You pay the regular FEHB premium, and get a Part B premium rebate for most or all of the cost of Part B. In 2020 and 2021, some of the Kaiser options, all the UnitedHealthcare “Choice” options, and Aetna Advantage rebate all or almost all of the Part B premium on top of a generous wraparound.""
Has anyone out there done this and if so whom did you choose?? We currently have FEPBlue Basic which gives us an annual $800 rebate each against our Medicare premiums. Just hoping to carve a little more off the bottom line. Thanks for your feedback and stay healthy!
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I am a Federal Government retiree with the Blue Cross Standard plan only. I do not have Medicare Part B. In my opinion, the Medicare premiums are not worth the cost, even with the FEHB rebate they offer. Although, in my case, the Medicare premiums would be over $5,000 per year based on income. But, even so, the Medicare coverage is redundant and probably not worth the cost regardless of your Medicare premium. The FEHB annual catastrophic limit is $5,000 per year, which means that I will never be required to pay more than $5,000 per year in out of pocket expenses, an amount that I can afford. Since I have been eligible for Medicare, I have saved about $20,000 in Medicare premiums by rejecting Medicare Part B. So, I would suggest you do a side by side comparision of FEHB only vs FEHB plus Medicare. To me, the biggest reason to go with "FEHB only" is if you can afford to pay the catastrophic limit, if necessary. It will save you a lot of money by not paying the Medicare premium. Any Medicare Advantage plan would need to be very generous for me to consider adding a Medicare premium to my budget.