So Many Choices: Which FEHB Plans Work Best with …

[Pages:32]THIS WEBINAR SPONSORED BY

So Many Choices: Which FEHB Plans Work Best with Medicare A & B?

A NARFE Federal Benefits Institute Webinar

Presented by Tammy Flanagan Federal Benefits Expert

Sponsored by BlueCross BlueShield Closed Captioning (CC) is available on the recorded version of this webinar.

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Agenda

? FEHB and Medicare ? The Parts of Medicare ? Medicare Part B Premiums ? What Are Your Options? ? Medicare Advantage Plans ? Tools and Resources ? Next Steps

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FEHB and Medicare

It's Time to Choose! ? Consider

Medicare Part A Medicare Part B FEHB

? Goal

Low premiums Excellent coverage Low out-of-pocket costs Prescription coverage

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FEHB and Medicare

Why Do I Need Medicare if I Have FEHB?

Approximately 25% of Medicare-eligible

federal retirees do not take Medicare Part B

Approximately 75% of Medicare-eligible

federal retirees take Medicare Part B

Your FEHB plan will still cover you

FEHB and Medicare can cover close to 100% of inpatient and outpatient costs

You may be subject to IRMAA (higher income Medicare

premiums)

Medicare caters to the needs of the

elderly

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FEHB and Medicare

Why Do I Need FEHB if I Have Medicare? ? FEHB will cover some of the gaps in

Medicare A and B, including

Prescriptions Hearing aids Dental care Overseas care

? Many FEHB plans will waive cost-sharing when Medicare A and B are primary

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The Parts of Medicare

A Inpatient

B Outpatient

C Medicare Advantage

D Prescription Drugs

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Medicare Part B Premiums

Year

Part B Monthly Premium Per Person

1966

$3

1976

$7.20

1986

$15.50

1996

$42.50

2006

$88.50

2007

$93.50

2016

$120.70 or $104.90 (hold harmless provision)

2017

$134 - $428.60 or $109 (hold harmless provision)

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Medicare Part B Premiums

If your yearly income in 2019 was

File individual tax return

File joint tax return

$88,000 or less

$176,000 or less

File married & separate tax return

$88,000 or less

You pay each month (in 2021)

$148.50

above $88,000 up to above $176,000 up Not applicable

$111,000

to $222,000

above $111,000 up above $222,000 up Not applicable

to $138,000

to $276,000

above $138,000 up above $276,000 up Not applicable

to $165,000

to $330,000

above $165,000 and above $330,000 and above $88,000 and less than $500,000 less than $750,000 less than $412,000

$207.90 $297.00 $386.10 $475.20

$500,000 or above $750,000 and above $412,000 and above $504.90

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