Misinformation about how Medicare B works with the Federal Employees Health Benefits (FEHB) program causes much of the confusion and complication on this topic. Common assumptions about Medicare Part B, IRMAA, whether you need Part D (prescription drugs) and FEHB coordination can obscure how coverage and costs actually play out over time.
Retirement counselor, Tammy Flanagan, outlines why it is important to take time to consider the pros and cons of adding Medicare to FEHB by addressing these common myths:
- Adding Medicare Part B is too expensive
- The cost of Part B of Medicare can be offset by the benefits of enrollment
- Since I am subject to Income Related Monthly Adjustment Amount (IRMAA) surcharges, it is not worth adding Part B
- By enrolling in Part B, I won’t be able to see the providers I want to see
- I will wait until I’m older, and I need more health care to enroll in Part B
- Federal retirees do not need Medicare Part D prescription drug coverage
- FEHB plans that offer Medicare Employer Group Waiver Plan (EGWP) Advantage plans are the same as individual Medicare Advantage plans.
Click here to read the full story [GovExec]