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July 21, 2019

Federal Employee Retirement and Benefits News

Search Results for: health care costs

NEWSLETTER WEEKLY-HEALTH CARE COSTS

With Open Season, Federal employees begin to hear so many things, much more than whether to switch health care plans or not.  They are also preoccupied with whether their plan will increase in cost and if the plan will offer the benefits including affordability.  While there are many factors Federal employees have to think about,

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USPS Retiree Health Benefits and the Unsustainable Path

Based on a Government Accountability Office (GAO) report, a worse financial situation may be occurring with the Postal Service Retiree Health Benefits Fund (RHB). Due to the poor financial condition of the Postal Services, it is going through its 11th straight year of huge financial losses. The funds could be depleted by 2030 if no...Read More

Considerations for FEHB and Medicare Ahead of Open Season

As we are heading into Open Season, FEDVIP and FSAFEDS are essential considerations, though we should observe the two types of health care coverage that a majority of people rely on in a particular point in their life; Medicare Parts A and B. Medicare Part A is mainly for hospital insurance coverage. Considering that taxes...Read More

The Fate of USPS Retiree Health Benefits Funds

There is a strong notion that the U.S Postal Service will go bankrupt and be short of funds to pay for retiree’s healthcare by 2030 if Congress does not do something to modify its funding shortfall. According to the report given by the Government Accountability Officer on Oct 1, if the U.S Postal Service fails...Read More

Do You Really Need Both Medicare and FEHB?

At the age of 65, federal employees are eligible to enroll in Medicare. In most cases, feds don’t express as much interest in Medicare as they are happy enough with their Federal Employee Health Benefits (FEHB) coverage. However, Medicare requires enrollment and slaps those who don’t subscribe with penalties. Unfortunately, this means that feds must...Read More

Employer Health Coverage After Age 65: What to ask

It’s important to understand employer health coverage rules as well as how they interact with Medicare, especially for employees (and maybe even more so for their spouses) who continue to work after the age of 65. Typically, most employer plans including more than 20 employees are required to continue offering health coverage to their active...Read More

Keeping Your FEHB Health Insurance Upon Retirement

When working, your Federal Employees Health Benefits (FEHB) is important. As long as you meet the eligibility rules then for the rest of your life in retirement, you and your spouse can keep these benefits, and the share of cost also remains the same. Continuing FEHB coverage into retirement comes with a perk: more flexibility...Read More

The Most Neglected Retirement Expense: Long-Term Care

Effectively retiring from your career involves various expenses. As a retiree, you will need to make certain adjustments in your lifestyle to cope successfully. According to data from the Society of Actuaries, a majority of Americans are ill-prepared to deal with these changes. Typically, 85-year-olds depend on family members and home aides for long-term care

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Paying for Long-Term Care without Insurance

Placing an elderly parent in a long-term care facility is a financially challenging undertaking. This is true even though your parents may have long-term care insurance.  Often, in a situation where health insurance may not be sufficient, you may find it hard to take care of your parent’s long-term care needs. This is why it’s

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How Medicare Works with Self +!

Health expenses are increasing with no real signs of slowing down any time soon. And for seniors, the costs can be astronomical. Of course, most employees and retirees when they turn 65, will see Medicare covering most of these expenses. It’s not a gift because they paid into the Medicare fund while they worked and

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Planning for Medicare in 2018

Planning for Medicare in 2018 If you’re on Medicare, this is that time of year when you can change your Medicare prescription drug coverage for the subsequent year. The enrollment period started Oct. 15 and will still run through Dec. 7. There is just a little time left (and a lot of questions). Here are some

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INSURANCE CAN STILL BE A GOOD DEAL FOR FEDERAL EMPLOYEES DESPITE COSTS

INSURANCE CAN STILL BE A GOOD DEAL FOR FEDERAL EMPLOYEES DESPITE COSTS Cаn thе Federal Emрlоуееѕ Hеаlth Bеnеfіtѕ Prоgrаm (FEHBP) be соnѕіdеrеd a great орроrtunіtу? Dоеѕ the premium іnсrеаѕе ѕеrvе аs a аnоthеr hіt to rеtіrееѕ and ѕtаffеrѕ shallow pockets? Is іt роѕѕіblе fоr federal employees to ѕаvе mоnеу by ѕhорріng аrоund instead? The answer to

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Not affiliated with The United States Office of Personnel Management or any government agency