Search results for what federal annuitants need to know about the fehb program and income related part b premiums

178 articles found

  • Should Federal Annuitants Stay Enrolled in the FEHB program after Age 65?

    You could drop FEHB coverage once you enroll in Parts A and B. But this would be a bad decision. Medicare Part B requires you to pay 20 percent of the cost of doctors’ fees, and deductibles, with no

  • Big Changes in How Federal Annuitants Receive Prescription Drug Benefits in 2024 and Beyond

    Major Medicare Part D reforms were enacted in the Inflation Reduction Act of 2022 (IRA). Some of the legislation’s provisions seek to lower prescription drug costs for both Medicare beneficiaries and

  • IRMAA - Income Related Monthly Adjustment Amounts

    What is IRMAA? IRMAA stands for Income Related Monthly Adjustment Amounts. High-income households pay an extra charge—IRMAA—on top of the standard Medicare premium. IRMAA can apply to either Medicare

  • FEHB & Medicare Part D

    The Medicare Part D prescription drug program benefits millions of Americans. It fills a major hole in Medicare that lasted 50 years. But, historically, it would rarely benefit federal retirees who

  • What Federal Annuitants Need to Know about Medicare Part D for 2024

    Federal annuitants will have higher healthcare costs in 2024. The enrollee share for FEHB premiums is rising 7.7%, and the standard Medicare Part B premium is increasing 5.9%, or $9.80, to

  • Medicare Basics - The Four Parts of Medicare - A, B, C, D

    Medicare Part A—Hospital Insurance—When you become eligible to join Medicare, you'll be enrolled in Part A. Most people don't pay an extra premium as you've been paying for Part A through paycheck

  • What Federal Employees Need to Know About FEHB Premium Conversion

    Federal employees shelter their share of the FEHB plan premium from income taxes through what is called "Premium Conversion." Employees have the right to opt out of this program. This increases very

  • Should I Use Preferred Providers With My FEHB Plan?

    We rate plan costs based on the assumption that you will always or almost always want to use preferred providers, also known as staying in network. Your cost is always lower, usually far lower, when

  • What Part-Time Employees Need to Know About the FEHB Program

    Many career Federal employees work part-time schedules. In these cases, most government agencies do not pay the regular share of the premium. Instead, employees receive a pro rata amount based on

  • How Retired Couples Can Save Money by Choosing Self-Only FEHB Enrollment

    For a husband and wife who are both Federal annuitants and who have no dependent children, it is possible to save on premium costs by enrolling separately as self only rather than together as self

  • A Closer Look at 2024 FEHB Premiums

    Federal employees and annuitants will, on average, pay 7.7% more in FEHB premiums next year. OPM cites increased cost and use of prescription drugs, emergency room care, and outpatient care as the

  • How the FEHB Program Works

    The Federal Employees Health Benefits Program (FEHB) is an unconventional government program. Instead of giving you one "take it or leave it" choice, the government authorizes plans to compete for

  • What You Need to Know About the FEHB Program and Health Savings Accounts (HSA)

    Both Health Reimbursement Arrangements (HRAs) and Health Savings Accounts (HSAs) provide significant tax advantages, beyond those available through Premium Conversion and FSAs. The simpler case

  • What You Need to Know About Vision Care in the FEHB Program

    All FEHB plans pay for medically necessary care of your eyes, such as cataract surgery. Many pay for annual refractive examinations to determine your prescription for eyeglasses or contact lens, and

  • What You Need to Know About Dental Care in the FEHB Program

    Plans' dental benefits differ widely in details, and many of the brochures use technical terminology such as "gingival" (gum, in English), "alveolar" (the part of the jawbone that holds teeth in

  • Medicare

    I'm a retired Federal employee with FEHB health insurance. My insurer is telling me I have to use Medicare part A. I don't want to use it because that's taxpayers money. I paid for insurance coverage

  • Reasons Why You Shouldn't Enroll in Medicare Part B

    Here are a few scenarios why retirees should consider not taking Part B. High Income Couples and Individuals that pay IRMAA—If you fall into one of the high-income categories (more than $103,000

  • Reasons Why You Should Enroll in Medicare Part B

    The most common question we receive every Open Season from retirees and soon-to-be retirees is whether to take Part B and pay the extra premium. Given that there is a penalty if you delay Part B

  • Advice for Persons Who Pay Full FEHB Premiums

    The FEHB program also provides coverage for former spouses, former employees, children turning age 26, and others. In each of these cases, the covered enrollee must pay the full premium without

  • Why FEHB Premiums Vary

    The General Schedule (GS) employee and retiree share of the annual premium varies widely among plans. In national plans it ranges from about $1,400 to almost $4,000 for individuals, and from about

  • What's New in FEHB for 2024

    Every year it’s important to review what’s new in FEHB. As in previous years, there are significant premium, benefit, and plan availability changes that will affect both active and retired federal

  • Doctors

    My doctors are not preferred providers in any plan. What should I do? Set up an FSA account for about half the amount you expect to spend on those doctors. Then pick one of the top ranked plans that

  • 2024 FEHB Program Changes

    The average 2024 premium will increase 7.7% for enrollees. This is considerably higher than historical experience in the FEHB, but is similar to most private employer cost increases and largely

  • Medicare and Provider Selection

    We rate plan costs based on the assumption that you will always or almost always want to use preferred providers, also known as staying in network. However, network problems largely disappear if you

  • Are Consumer Driven Health Plans the Right FEHB Plan Type for You?

    Consumer Driven Health Plans (CDHPs) have been around for a while, but we still get a lot of questions about them. Here’s why they’re one of the lowest-cost plans in FEHB. How CDHPs work CDHPs have

  • Can you Save Money by Enrolling in FEHB Self Plus One?

    Married couples with no children to cover, and single parents with one child to cover, can enroll as self plus one rather than as a family and, depending on the plan, usually save two or three

  • FEHB & Medicare Advantage

    Federal retirees have Medicare Advantage (MA) plans to consider joining. Our analysis shows that some of these offerings are an outstanding value. Aetna, APWU, Compass Rose, Kaiser, GEHA, MHBP, Rural

  • Should I Purchase a FEDVIP Dental or Vision Plan?

    The Federal government offers standalone "FEDVIP" dental and vision plans, separate and distinct from the FEHB program. The FEDVIP program shares the same Open Season dates as the FEHB program, but

  • How to Get FEHB Plan Information

    The OPM website has plan brochures and a great deal of other useful information. There are three additional ways to get brochures: Attend health fairs Call the plan Visit the plan website You change

  • Yearly Cost Estimate - Medicare Part A only

    Your yearly estimated costs include your FEHB premium and what you have to pay for your share of hospital, doctor, prescription, and other costs. We calculate typical costs for someone like you for

  • How to Coordinate a FEHB Plan with Other Insurance

    You cannot use our cost rankings directly if you have health insurance coverage from another source. The best FEHB plan for you depends on the cost and benefit structure of the other plan, though

  • TRICARE

    Would it be advantageous for me to enroll in TRICARE (I am retired military) rather than remaining with my FEHB plan? In general, TRICARE is a better choice than any FEHB plan, because its benefits

  • Are High Deductible Health Plans the Right FEHB Plan Type for You?

    For most federal employees, High Deductible Health Plans (HDHPs) will be the cheapest FEHB plan type. Here’s how they work. HDHP Overview HDHPs have much higher deductibles than traditional HMO and

  • How can Checkbook's Guide to Health Plans for Federal Employees help me?

    Checkbook's Guide to Health Plans for Federal Employees gives you vital shopping information that you cannot get from any other source. It tells you how much money you can save by changing—or by

  • Weight Loss Drug Coverage from FEHB Plans and Medicare

    Weight-loss drug popularity has skyrocketed. Between 2020 to2022, the number of prescriptions has risen to around 9 million in the U.S. With celebrity attention, positive clinical trials, and even

  • FEHB Tax Savings for Federal Employees

    There are major tax advantages for health insurance. The employer share of health insurance—paid by agencies for employees and by OPM for retirees—is part of employee compensation but by law is

  • Part B Rebate

    A few plans offer partial Medicare Part B reimbursements for those enrolled in Medicare Part B. These savings are included in our yearly cost estimates with Medicare Parts A & B and in the Extra Cost

  • High Deductible Health Plans

    I am confused regarding the difference between a consumer directed health plan with a health reimbursement account and a high deductible health plan that can have a health savings account. What sets

  • 13 FEHB Open Season Tips

    Getting "Free" Health Insurance—Some Consumer-Driven and High Deductible FEHB plans provide you a savings account larger than your actual premium cost after taxes. You can end the year with more

  • Spousal Insurance

    My husband is retiring and we are trying to decide if he should be put on my insurance plan. My concern is, if I were to pass away would he still be covered or would he have to find his own? Any

  • Deductibles, Copayments, and Coinsurance in the FEHB Program

    You can use cost sharing details to assist you in choosing a plan by pinpointing strengths and weaknesses for items of particular importance. If you are especially concerned about a broad area of

  • Extra Cost of Part B

    The difference between what you will likely pay, including both premiums and out-of-pocket costs, when you have an FEHB plan with both Medicare Parts A and B, compared to the same plan with only Part

  • How to Save Money on FEHB Coverage and Healthcare Costs

    With the average enrollee share of FEHB premium increasing 7.7% next year, most federal employees will pay more for health insurance in 2024. We’ll analyze this premium hike and walk you through

  • Nursing Care Benefits in the FEHB Program

    There are four kinds of nursing care: Skilled care while in a hospital. Skilled care in a special extended or skilled care facility. Care in your own home provided by visiting nurses. Custodial care

  • Hearing Aid Benefits in the FEHB Program

    All plans cover medical problems, such as infections, that affect any part of your body, including your ears. All plans cover routine hearing testing for children. Almost all will pay most of the

  • Outpatient Mental Benefits in the FEHB Program

    OPM has long required that plans pay the same benefits for physician visits or hospital stays whether due to either physical or mental illness. This requirement is called "parity," and, at face

  • Why Every Federal Employee Should Consider a Health Savings Account

    High Deductible Health Plans (HDHP), which include Health Savings Accounts (HSA), are one of the cheapest health plan options available to federal employees. With an increase in HSA contributions for

  • Dental Care

    I am a new employee and I have the Blue Cross Basic plan. I've reviewed the plan and it seems to cover dental as well as medical. But I have always thought I needed separate dental and vision. Others

  • Expect to see Improved Fertility Coverage from FEHB Plans in 2024

    OPM released their annual carrier call letter that outlines the goals and initiatives federal employees can see from FEHB plans in 2024. One of the biggest changes is fertility coverage. From the OPM

  • Should I Join an HMO in the FEHB Program?

    HMO plans provide not just insurance, but also a different approach to health care delivery from traditional fee-for-service medicine. Therefore, although cost and benefit comparisons are the key