If you will have Retiree, FEHB or TRICARE for Life as a secondary health insurance plan after age 65, and also enroll in Medicare Part B, we recommend the following:
In addition, if you are moving overseas and wish to stop paying Medicare Part B premiums permanently, you can follow these steps in Boldin to set up Employer Sponsored Medicare, which will delay Medicare and eliminate premiums until the employer-sponsored end date.
Step 1: Go to MyPlan > Expenses and Health Care > Medicare
Step 2: Do not select “Employer Sponsored Medicare.” This option delays Medicare and eliminates the Medicare premiums until the employer sponsored end date.
Step 3: Press the Itemize tab and enter your costs for Medicare Part B, FEHB and any other expenses you'd like to account for.
If you plan to stop Medicare partway through a planning period and need to manage changes with flexible start and stop dates for healthcare expenses, you can use the Itemized Features within Boldin. This allows for greater precision in managing costs.
If you will NOT enroll in Medicare Part B, consider using the Itemized Feature in Boldin to manage your healthcare costs effectively. While we recommend turning off IRMAA surcharges in the plan, a workaround is necessary due to feature limitations.
A workaround is to use the Itemized Feature and input medical expenses until your longevity age. This approach provides more comprehensive flexibility for managing costs, as it allows you to model different scenarios, such as transitioning off Medicare or changing expenses.
Step 1: Go to My Plan > Expenses and Health Care > Medicare
Step 2: Open the Medicare Expenses (65 through longevity) section
Step 3: Enable the Estimator (if not already enabled)
Step 4: Press ✎ (pencil) to edit your Medicare selection
Step 5: Press "Add employer sponsored Medicare coverage +"
Step 6: Enter your annual out-of-pocket costs and the age these costs will end
Step 7: Make sure to press Save
See Get Started Series 10 for further information.
Additional scenarios like permanently dropping Medicare Part B or combining employer and Medicare coverage can be explored using Boldin's various features.