Quote:
Originally Posted by retiredguy123
Some Federal retirees can save thousands, but most do not.
I would point out that the companies that sell the FEHB insurance plans are in business to make money. They want retirees to sign up for Medicare because it saves them a lot of money in claim payments. In fact, they would like the Federal Government to require retirees to have Medicare, like many private companies do. That is why they offer rebates and other benefits to encourage retirees to have Medicare. But those benefits are calculated to benefit the insurance company, not the retiree. That is why it is important to calculate the cost and benefits for your particular situation.
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RetiredGuy is making a lot of sense to me.
If married, FEHB for BCBS standard self plus one is $627.49 a month plus Medicare is $170.10 each (non-IRMAA) ($340.20 total) for a total of $967.69 a month or $11,612.28 a year for 2022. Thats a lot of money per month just to not have a co-pay or a deductible.
IRMAA will definitely be a factor for me, so I appreciate the discussion! I'm a few years out from having to make a decision, so good food for thought.