I’m Turning 65: Do I Need FEHB and Medicare?

FEHB and Medicare are two mega forces in the world of health benefits. But, when turning 65, do you need FEHB and Medicare? In this video, we address this crucial question.

⏰ Timecodes
0:00 – Intro
0:49 – Turning 65
1:33 – Medicare Parts
2:28 – Medicare Enrollment
4:14 – Medicare Costs
6:51 – Is Medicare Mandatory?
7:41 – Factor 1: Cost vs. Cost Savings
9:14 – Factor 2: Coverage Limitations
10:37 – Factor 3: Future Healthcare Needs
11:57 – Summary

Do you have questions or concerns about Federal Benefits or Retirement Planning?

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Who Are We:
Fedway Financial provides financial planning, investment management, and benefits training to federal employees and retirees. Our goal is to help you understand and maximize your federal benefits program, and make prudent and informed decisions related to every facet of your financial life.

#Medicare #FEHB #Turning65

🎵 Music provided by LAKEY INSPIRED – Chill Day

Disclaimer: All content on this site is for general information purposes only and is not intended to provide any personalized financial advice.

[dw]

I watched several videos covering the FEHB/Medicare topic. Yours was by far and away the best. Great job and thank you!

[nancyhale]

This is the most organized, clear, and helpful video among the 20 I have watched so far on the FEHB and Medicare part B combination. You covered exactly what I needed to know and explained what others glossed over. Thank you!

[pls]

Excellent and very compact general briefing, especially your three points at the end about Medicare Part B. Well done!

[JanetVaughn-cmet]

Excellent video. Precise information explained in a straightforward approach. 😊 thanks. I'm 1 of those caught in the "new" postal service reform bill & their offer for a SEP to enroll in Medicare's part B with NO PENALTY is enticing. Then pick a plan to help supplement coverage seems to be the best route to go. Will have to wait & see what carrier's will participate & premiums terms. Then you can have part A&B, & PSHB to cover us as we age. Hope this whole thing works & their are no problems or issues, since it is a new & untested plan.

[Lifeisgoodmeandyou]

Yikes...This youtube video is a goldmine of information. I am so grateful. I've learned more on this video than 10 other videos.

[melblacke]

I appreciate the direct, simply presented information.

[davidsullivan]

Wow, this was the best video presentation I have seen on this topic. Thank you!

[vib.]

This is the best information I have seen so far on this subject. It is very helpful. I have watched several of your videos and all have been helpful. I have subscribed. Thanks Jerel!

[davidrosado]

Well done. I enjoyed your presentation as it was very informative.

[barrysturdivant]

Excellent video. I am planning to retire at 65 in 4 years. My wife will be in her fifties and a son under 26. What should I do for health coverage for the family? Thanks so much.

[aljohnson]

At approximately the 8:30 mark your numbers are significantly wrong. BCBS basic is $207.44 monthly for self only. It goes up from there if you include +1 or family. Standard is even more. For BCBS +1 which many retirees would fall into, it’s $517.03 monthly. I tried unsuccessfully to post the direct link but you can find the premiums on the FEP Blue website.

[mrnoedahl]

What should I do? I am under Civil Service Retirement and do not have enough time to collect any social security benefits. I do not plan on retiring soon although that could change.

[jaysmitt]

Once we obtain Medicare doesn't it become the primary insurance? If so, who does Federal heath insurance work for those retirees living abroad?

[DanielReed-mm]

If I retire overseas but will continue my health insurance (GEHA) ... is the "High Deductible" the best plan? Regular health care where I will be is very inexpensive. Also, once I turn 65 is the High Deductible the best plan to have with Medicare overseas?

[NielsenEC]

I turned 65 last December and passed on part B since I was a current employee. I changed my mind and retired in July. Can I add part B without a penalty while continuing my FEHB coverage in retirement?

[dalelemon]

My wife and I both retired when we turned sixty. I have fehb as a spouse since i didn’t work for the federal government. I’m turning 65 this year. Can I remain in fehb when I sign up for Medicare?

[ManifestPhil]

I hope you update this program for 2025

[c.stephens]

Hello I retired two years ago and took ss in 22. Now that I'm approaching 65 this year and already enroll in medicare part A and B and have FEHB(MHBP) that covers most of my out of pocket expenses. I was wondering if I can keep this insurance while having medicare partsA and B and not give up the FEHB plan? If i which my FEHB plan during open season how would that effect my medicare? Tank you. Also very informative video.

[healthadvicewithmary]

I have aetna advantage plan and FEHB. The contract Doctors in each plan are different sometimes. So I have to make sure the Doctors are in both plans otherwise I pay everything out of pocket. Because of this I'm thinking of suspending my FEHB plan to a supplement plan G .It would be more expensive because I would have to get a drug D plan and hearing dental vision. But I would have the freedom to just have to get a Doctor in the medicare system. Would that be a wiser choice?

[viperviper]

I am 66 years old and still work for the federal government. I currently have Medicare A but I don’t have part B. As I understand it you are not penalized as long as you are still working and have federal health care insurance I plan to retire late this year will I be penalized for part B Medicare