Medicare vs FEHB - Single Healthy Person - Pick One

[jimmyshutter]

I'm trying to decide when I turn 65 and had to pick between the two options listed (Medicare vs FEHB) which would benefit me more.

I'm a single male with minimal medications and a relatively healthy medical history. My family history is also relatively healthy. I usually pick the least expensive plan during enrollment season because I've rarely seen a doctor more than twice a year in my lifetime. The cost for my current FEHB plan is appr $125/month vs $165/month for Medicare.

So, picking one which would you choose as a single, relatively healthy individual? I'm also a "risk-taker" and believe in limited insurance for everything. Thanks

[CrustyBadger]

FEHB will cover you somewhat during international travel; Medicare will not.

Most people I know who have retired from the federal government have both Medicare and FEHB together, though. FEHB works as the supplemental insurance to  picks up much of what Medicare doesn't cover. If you have serious health care costs, Medicare+FEHB is a great deal, especially if you have a family. My husband was always incredibly healthy in his younger years, but developed an extremely serious illness in his mid 50s. We have thankfully paid very little for any of his medications, treatments, hospitalizations and therapies because of having his federal gov't health insurance as well as Medicare.

[Catbert]

I retired 14 years ago.  When I turned 65 I only signed up for (free) Part A.  I've never regretted waiving Medicare. It's been 6 years for me and 11 for DH.  As a retiree you have the same yearly opportunity to switch FEHB plans as active employees do.

I had Kaiser HMO for hmmm, my entire adult life so I'm happy to continue without paying additional premiums for Medicare. 

And yep, what CrustyBadger said about international travel.

 

[DeniseNJ]

FEHB.  People stay at work longer than they have or want to just to get FEHB.  You won't drop FEHB for Medicare since you'd need a secondary insurance as Medicare only pays 80 %.  You'd also need a Part D plan to cover meds as that is separate--people forget about that.  Your FEHB covers both for less money.  And if you do marry or have a child (stranger tings have happened) you can increase your coverage to family or single plus one or whatever.  with Medicare each person needs their own and you'd need something else for the child or other dependent.

FEHB is one of the major benefits of being a fed.  There's a reason that every other insurance requires you to get Part b Medicare.  Even the post office is switching their new retirees to Medicare from their postal insurance.

Basically, if you are happy with FEHB now then you just keep everything the same.  No need for Medicare Part b or Part d.

[iris lily]

What is Fehb?

[DeniseNJ]

What is Fehb?

Federal Employee Health Benefit..  That's health insurance for feds.

[jimmyshutter]

FEHB will cover you somewhat during international travel; Medicare will not.

Good to know

I retired 14 years ago.  When I turned 65 I only signed up for (free) Part A.  I've never regretted waiving Medicare. It's been 6 years for me and 11 for DH.  As a retiree you have the same yearly opportunity to switch FEHB plans as active employees do.

I had Kaiser HMO for hmmm, my entire adult life so I'm happy to continue without paying additional premiums for Medicare. 

And yep, what CrustyBadger said about international travel.

Nice, thank you

Basically, if you are happy with FEHB now then you just keep everything the same.  No need for Medicare Part b or Part d.

Great, thanks


Thank you guys, this is exactly the information I was looking for.  I'm leaning towards FEHB and not having Medicare B. Either way I won't risk losing FEHB.

[Fomerly known as something]

No matter what I’m keeping FEHB, as to if I take part B that is TBD depending on how things are when I’m 65.