Can I suspend my FEHB?
Can I suspend my FEHB?
Yes, under limited circumstances. As an annuitant you can suspend your Federal Employees Health Benefits (FEHB) enrollment to enroll in a Medicare Advantage plan, TRICARE, CHAMPVA, Medicaid or a similar State-sponsored program of medical assistance for the needy, or use Peace Corps health insurance coverage.
How do I suspend my FEHB enrollment?
How can annuitants or former spouses suspend FEHB coverage to use TRICARE or CHAMPVA? They can apply to suspend their coverage at any time. Annuitants can call OPM’s Retirement Information Office at 1-888-767-6738 to obtain a suspension form. Callers within the local Washington, DC calling area must call 202-606-0500.
Can you cancel FEHB at any time?
A. You may cancel your FEHB coverage at any time. If you are a retiree, you wouldn’t be able to re-enroll unless you were reemployed by the federal government in a position that’s covered by the FEHB Program.
Is FEHB considered creditable coverage?
Because all FEHB Program plans have as good or better coverage than Medicare, they are considered to offer “creditable coverage.” So, if you decide not to join a Medicare drug plan now, but change your mind later and you are still enrolled in FEHB, you can do so without paying a late enrollment penalty.
How does FEHB work after retirement?
Once employees retire, if they have chosen to keep their FEHB coverage in retirement, they will begin to pay the premium with after-tax money. While they’re working, they pay the FEHB premium with pre-tax money, but in retirement they pay it with after-tax money.
When can FEHB be suspended?
There are specific requirements for suspending FEHB coverage. Basically, you can only suspend your FEHB coverage if you sign up for a Medicare Advantage Plan (Part C), TRICARE, TRICARE for Life, Peace Corps, Medicaid or CHAMPVA plans. You can cancel your coverage anytime if desired.
What happens to my FEHB when I turn 65?
Your FEHB coverage will continue whether or not you enroll in Medicare. Most Federal employees and annuitants are entitled to Medicare Part A at age 65 without cost. When you don’t have to pay premiums for Medicare Part A, it makes good sense to obtain coverage.
Do most federal retirees take Medicare Part B?
Most people who have retiree coverage must enroll in Medicare Part A and Part B when first eligible. As a federal retiree, if you don’t enroll in Medicare, your FEHB plan will act as your primary insurer and won’t pay less because you qualify for Medicare.
Can a Medicare supplement suspend FEHB coverage?
Kathleen, one of our retirement planning newsletter subscribers wasn’t able to suspend her FEHB coverage after signing up for a Medicare Supplement Plan earlier this year. There are specific requirements for suspending FEHB coverage.
Do you need FEHB if you have Medicare Advantage?
When you enroll in a Medicare Advantage plan, you may not need FEHB coverage because the Medicare Advantage plan will provide you with many of the same benefits. You should review the Medicare Advantage Plan benefits carefully before making a decision to suspend or cancel FEHB coverage.
What happens if I Lose my FEHB coverage?
OPM states, “If you provide documentation to your retirement system that you are suspending your FEHB coverage to enroll in a Medicare Advantage plan, you may reenroll in FEHB if you later lose or cancel your Medicare Advantage plan coverage.
Can you suspend FEHB coverage with TRICARE for life?
Basically, you can only suspend your FEHB coverage if you sign up for a Medicare Advantage Plan (Part C), TRICARE, TRICARE for Life, Peace Corps, Medicaid or CHAMPVA plans. You can cancel your coverage anytime if desired.