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Federal Retirees Should Review Their Insurance

Wed, 02/07/2001 - 12:00am — Karen Stevenson
Description: 

The National Association of Retired Federal Employees (NARFE) has information on their site to help federal retirees understand how Medicare blends in with their retirement insurance. They point out that some federal retirees may be paying unnecessary premiums for insurance that duplicates benefits they already have. For instance, they say that members of the Federal Employee Health Benefits Program (FEHBP) HMOs probably should NOT sign up for Medicare Part B benefits, since they already have this coverage, and they would be able to save the $600 a year premiums that Part B beneficiaries must pay. They said that some HMOs have incorrectly told FEHBP beneficiaries that they must sign up for Medicare Part B, which is not true. This is different than beneficiaries who belong to Medicare HMOs, who are required to participate in Medicare Part B. This information and more is available on the NARFE site.

The National Association of Retired Federal Employees (NARFE) has information on their site to help federal retirees understand how Medicare blends in with their retirement insurance. They point out that some federal retirees may be paying unnecessary premiums for insurance that duplicates benefits they already have. For instance, they say that members of the Federal Employee Health Benefits Program (FEHBP) HMOs probably should NOT sign up for Medicare Part B benefits, since they already have this coverage, and they would be able to save the $600 a year premiums that Part B beneficiaries must pay. They said that some HMOs have incorrectly told FEHBP beneficiaries that they must sign up for Medicare Part B, which is not true. This is different than beneficiaries who belong to Medicare HMOs, who are required to participate in Medicare Part B. This information and more is available on the NARFE site.