A news and educational resource pooling excerpts from various news and information sources from the web for the Federal Retiree.
Article Excerpt: "...President Trump’s sweeping domestic policy bill that passed the House on Thursday provides a $6,000 boost to senior citizens’ standard deduction from 2025 through 2028.
The new temporary tax break — $6,000 for individuals and $12,000 for couples — is for tax filers age 65 and older. It starts phasing out for those who earn over $75,000 ($150,000 for couples). ..."
Article Excerpt: "The Social Security Administration (SSA) is celebrating the passage of the One Big, Beautiful Bill...The bill ensures that nearly 90% of Social Security beneficiaries will no longer pay federal income taxes on their benefits...Additionally, it provides an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can keep more of what they have earned."
AI Overview
Medicare Plan G is often considered better than Medicare Part C (Medicare Advantage) due to its comprehensive coverage and greater flexibility, particularly for those who value freedom in choosing doctors and hospitals. While Plan G typically has higher premiums, it offers more predictable out-of-pocket costs and avoids the network restrictions and prior authorization requirements often associated with Medicare Advantage plans.
Here's a more detailed comparison:
Medicare Plan G (Medigap):
Comprehensive Coverage:
Plan G covers a wide range of services, including Part A and Part B, deductibles, coinsurance, and excess charges.
No Network Restrictions:
You can see any doctor or hospital that accepts Medicare, anywhere in the U.S.
Predictable Costs:
Out-of-pocket expenses are limited to the Part B deductible (which was $226 in 2023) and potentially some copays for foreign travel emergencies, making it easier to budget for healthcare.
No Prior Authorizations:
You don't need referrals or prior authorization for services, potentially avoiding delays in care.
Nationwide Coverage:
You can travel or relocate and still be covered by Plan G, as long as the provider accepts Medicare.
Medicare Part C (Medicare Advantage):
Potentially Lower Premiums:
Medicare Advantage plans often have lower monthly premiums than Plan G, but this may come with higher out-of-pocket costs for services.
Limited Networks:
Many Medicare Advantage plans have networks of doctors and hospitals, and you may pay more or need a referral to see providers outside the network.
Additional Benefits:
Some Medicare Advantage plans offer extra benefits like dental, vision, and hearing coverage, which are not included in Plan G.
Prior Authorizations:
Some plans may require prior authorization for certain services, which can lead to delays or denials of care.
Out-of-Pocket Maximums:
While Medicare Advantage plans have out-of-pocket maximums, these can be higher than the potential out-of-pocket costs with Plan G.
In essence:
If you prioritize freedom to choose your doctors and hospitals, consistent and predictable coverage, and minimal hassle with prior authorizations, Plan G is often the better choice, despite potentially higher premiums. If you're comfortable with network restrictions and potentially lower premiums in exchange for more variable out-of-pocket costs, and you value extra benefits like dental or vision, then a Medicare Advantage plan might be a better fit.
Article Excerpt: "...AARP Medicare Supplement Insurance from UnitedHealthcare earned 5 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account pricing, coverage options, online quote availability, complaint data from the National Association of Insurance Commissioners and more.
Based on these ratings, AARP Medicare Supplement Insurance tops our list of the best Medicare Supplement Insurance companies. ..."
Article Excerpt: "...There are millions of Americans who rely on Social Security as a financial backbone, especially for seniors. As of this summer, a change of policy means that an approximate 15% of benefits could be garnished for recipients who are behind on their federal student loans. This could cause a major impact on millions of citizens.
There are over 5 million citizens who are in default on their federal student loan. According to NBC New York, these rates are increasing.
Amongst these defaulters are retirees and vulnerable populations. ..."
Article Excerpt: "...It’s not mandatory to join a Medicare Part D plan. But enrolling in a Part D plan is important if you rely on prescription medications to support your health and well-being—or if it’s likely you will in the future.
“Without Part D coverage, the cost of medications can quickly become overwhelming for most older adults, especially since our health care needs can change as we get older,” said Jen Teague, NCOA Director for Health Coverage and Benefits. ...First, take the time to compare different Part D plans using Medicare's online plan finder tool. Once you've chosen a plan that fits your health needs and budget, you can enroll:
Online at Medicare.gov
Directly on the insurance provider's website
By calling Medicare at 1-800-MEDICARE (1-800-633-4227) or by calling the insurance company directly
By completing a paper application and mailing it to the insurance company
"
Article Excerpt: "...When it comes to paying your Medicare Supplement premiums, you have options. You can pay monthly, quarterly, or annually, and you can pay via check or automatic bank draft.
But is there any advantage to paying your premiums a certain way? ..."
Article Excerpt: "...How many months after I turn 65 can I apply for Medicare? Generally, you're first eligible to sign up for Part A and Part B starting 3 months before you turn 65 and ending 3 months after the month you turn 65. ..."
Article Excerpt: "The availability of discontinued service retirement gives agencies a valuable personnel management tool to lessen the impact of an involuntary separation on a long-serving employee. Before supporting an application for discontinued service retirement, an agency should consider all of the facts and circumstances to determine whether it appears that the true nature of the action qualifies...A discontinued service retirement provides an immediate annuity for employees who are separated involuntarily. Discontinued service retirement has different age and service requirements than ..."
Article Excerpt: "...USPS employees may participate in a webinar that will help explain how the new Postal Service Health Benefits (PSHB) Program and Medicare work in retirement.
The session, “PSHB and Medicare in Retirement,” will be held Monday, March 10, from noon to 1 p.m. Eastern.
Representatives from CareFirst BlueCross BlueShield, a provider of health plans for federal employees, will lead the webinar.
Participants must register on the webinar website. ..."