Do postal retirees need Medicare Part B?
Asked by: Theresa Robel | Last update: February 25, 2025Score: 4.1/5 (47 votes)
Do I need Medicare B if I have FEHB?
If you are working and have FEHB or you are covered under your spouse's group health insurance plan, then you do not have to enroll in Part B when you turn 65. You will have a special enrollment period when you retire or your spouse retires to enroll in Part B without paying a penalty.
Will postal retirees be forced into Medicare?
As required by the Postal Service Reform Act of 2022 (PSRA), certain Medicare-eligible Postal Service annuitants and their Medicare-eligible family members must enroll in Medicare Part B to remain enrolled in a PSHB plan. There are some exceptions to this requirement.
Do you have to have Medicare Part B when you retire?
If you are planning to take retiree coverage from a former employer, you should enroll in both Part A and B. Most retiree insurance requires you to have both Part A and Part B to get coverage.
How much is Medicare Part B for federal retirees?
Medicare Part B Premium and Deductible
The standard monthly premium for Medicare Part B enrollees will be $174.70 for 2024, an increase of $9.80 from $164.90 in 2023. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023.
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Does everyone pay $170 for Medicare Part B?
Most people pay no premiums for Part A. For Medicare Part B in 2025, most beneficiaries will pay $185 per month. Certain factors may require you to pay more or less than the standard Medicare Part B premium in 2025.
What happens if I don't want Medicare Part B?
If you're dropping Part B and keeping Part A, we'll send you a new Medicare card showing you have only Part A coverage. Write down your Medicare Number in case you need to go to the hospital or get Part A-covered services until your new card arrives.
Does a person really need Medicare Part B?
Part B is optional. Part B helps pay for covered medical services and items when they are medically necessary. Part B also covers some preventive services like exams, lab tests, and screening shots to help prevent, find, or manage a medical problem.
How do you know if you need Medicare Part B?
You Need Part B if Medicare Is Primary
It is your outpatient coverage. Once you retire and have no access to other health coverage, Medicare becomes your primary insurance. Part A pays for your room and board in the hospital. Part B covers most of the rest.
Can I delay Medicare Part B if I am still working?
People with group health coverage based on current employment may be able to delay Part A and Part B. They won't have to pay a lifetime late enrollment penalty if they enroll later.
What is the new postal insurance in 2025 for retirees?
The PSHB Program will provide health insurance to eligible Postal Service employees, Postal Service annuitants, and their eligible family members starting on January 1, 2025.
Why do postal workers not get Social Security?
Before 1983, postal workers did not pay Social Security taxes. Instead, they paid into the Civil Service Retirement System, or CSRS, a different benefit program. Workers who stayed in CSRS after 1983 cannot collect Social Security benefits.
Are federal retirees automatically enrolled in Medicare?
For most FEHB enrollees, this coverage is available premium-free. Part B coverage has a monthly premium. If you get Social Security or Railroad Retirement Board (RRB) benefits, you'll be automatically enrolled in Part A and Part B when you turn 65 years old.
Who is exempt from paying Medicare Part B premiums?
Enrollees who have Medicaid, employer-sponsored health coverage, or retiree health benefits from an employer generally don't have to pay the full Medicare Part B deductible, as the other coverage picks up some or all of the cost (this varies depending on the plan).
Does everyone automatically get Medicare Part B?
If you are approaching age 65 and you already receive Social Security or Railroad Retirement benefits through early retirement, you will be automatically enrolled in Medicare Parts A (hospital insurance) and B (medical insurance) when you turn 65.
Should I keep my federal health insurance when I retire?
Not only does the federal government continue to provide healthcare coverage to you as a retiree, but it also continues to pick up roughly 72 percent of your premium. Obviously, this is a benefit that you should seriously consider continuing in retirement.
Why do people opt out of Medicare Part B?
Although Part B is not mandatory, it does come with a premium in most cases. Some people delay enrollment in Medicare Part B to avoid paying the premium – especially if they have other creditable coverage. The same can be true of Part A, for people that must pay a premium for it.
Why is Social Security no longer paying Medicare Part B?
There could be several reasons why Social Security stopped withholding your Medicare Part B premium. One common reason is that your income has exceeded the threshold for premium assistance. Another reason could be that there was a mistake or error in your records.
What if I don't want Medicare Part B?
How do I terminate my Medicare Part B (medical insurance)? You can voluntarily terminate your Medicare Part B (Medical Insurance). However, you may need to have a personal interview with us to review the risks of dropping coverage and for assistance with your request.
What is the alternative to Medicare Part B?
Part C (Medicare Advantage)
Part C is known as Medicare Advantage. It's an alternative to Parts A and B that bundles several coverage types, including Parts A, B, and usually D. It may also include: Vision.
Is Medicare Part B free at age 65?
Medicare Part A (hospital insurance) is free for almost everyone. You have to pay a monthly premium for Medicare Part B (medical insurance). If you already have other health insurance when you become eligible for Medicare, you may wonder if it's worth the monthly premium costs to sign up for Part B.
Is Medicare Part B mandatory?
In most cases, if someone does not enroll in Part B when first eligible, they will have to pay a late enrollment penalty for as long as they have Part B. Part B is a voluntary program that requires the payment of a monthly premium for all parts of coverage.
Is there a penalty for not having Medicare Part B?
Example: If you waited 2 full years (24 months) to sign up for Part B and didn't qualify for a Special Enrollment Period, you'll have to pay a 20% late enrollment penalty (10% for each full 12-month period that you could have signed up), plus the standard Part B monthly premium ($185 in 2025).
How much is deducted from Social Security for Medicare Part B?
Medicare Part B Premium and Deductible
The standard monthly premium for Medicare Part B enrollees will be $185.00 for 2025, an increase of $10.30 from $174.70 in 2024. The annual deductible for all Medicare Part B beneficiaries will be $257 in 2025, an increase of $17 from the annual deductible of $240 in 2024.