Quote:
Originally Posted by retiredguy123
I don't know much about Plan F, but, when comparing health insurance plans, you should always compare the total annual premiums to the catastrophic limit of your coverage. For example, the only health insurance I have is my Federal employee's Blue Cross plan that has a catastrophic limit of $6,000 per year. So, my maximum out-of-pocket health care expense is $6,000, after which everything is covered at 100 percent. This covers all costs, including prescription drugs. I would be crazy to buy Medicare Part B because the annual premiums would be almost $6,000 alone. So, basically, I would be paying for nothing. I have tried to explain this to other Federal retirees, but some of them will still pay for the optional Medicare Part B and a supplement because they don't have copays, even though they are wasting thousands of dollars in premiums.
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Retired Feds and some retired from state employment and also retired union members definitely can fall into a different category. (I thought about addressing that, but I did not have time — so thank you. )
My mama done told me that in a marriage one of you needs to work for a big company and the other one for the government and you will be well covered in retirement. My mom was a smart woman.
Boomer