Medicare vs Group Plan
- Wendell
- annneedle
- Wendell
- Wendell
- annneedle
This archived discussion is "read only".
» Wendell - Early Retirement
I am a retired mailman, age 57. I retired at age 55 with 36 yrs of service. My question is when I reach age 65 should I keep my Federal Health Insurance and Medicare , part A or should I drop my group plan and opt for Medicare , part B. I now pay about one hundred dollars a month for my Fed. Health Plan. No one seems to have an answer to this and I would like to hear the pros and cons on this. Thanks,-- posted by Wendell
» annneedle - Group vs. Medicare
Hi Wendell:My first instinct is to say keep the group insurance -- UNLESS Part B Medicare would give you a better deal cost- or coverage-wise. Still, federal employee coverage enjoys an excellent repuation, so I'd bet that coverage is better than anything Medicare has cooked up, which is usually the case with any group coverage. Also, $100 per month (even if it's individual coverage) seems cheap!
Also, remember that once you've dropped group coverage you usually can't return. And, you still have seven years to decide, so who know what will happen with federal or Medicare coverage.
I hope that helped --- Ann Needle
-- posted by annneedle
» Wendell - Medicare
Hi Ann, I appreciate your response in such a timely manner. It is also my inclination to keep my FEHB plan. As you said, once I give it up I believe it is gone forever. I just was in doubt about how all this works since medicare part A is free and you have to pay for part B. Even if my group coverage costs a little more I sure would hate to discard it and find out down the road that I really need it. Any more input on this would be greatly appreciated. Wendell-- posted by Wendell
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