I am a retired Federal employee on Federal BCBS Basic. I turned 65 a few weeks ago. My spouse is on my insurance (self + 1) and will turn 65 this Fall.
I have been on BCBS Basic for 25+ years. I had a brain aneurysm procedure in 2002, I don't recall what it cost out of pocket, but it wasn't bad. I have had three colonoscopies which again cost very little. Three years ago I had my appendix removed and that cost me $300 plus a $30 copay and two years ago I had a pre-cancerous thingie removed from my eye which cost $400 plus a $40 copay.
I have only had one doctor who didn't accept BCBS in 25+ years; BCBS Basic has served me well.
I have read the past posts on here and FedSoup et al regarding the decision to pick up Medicare Part B or not. I also read the Checkbook Guide to Health Plans for Federal Employees (they recommend not picking Part B up).
My BCBS coverage so far has been excellent so I am not sure paying for the Part B premium will be worth it.
If we don't do any Roth conversions our Part B premiums will be $170 per month minus the BCBS kickback of $800 per year. 170*12 = $2040 - $800 = $1,240 x 2 = $2,480 per year in Part B premiums for both of us.
By age 70, when Social Security begins, We will be in the $238 per month premium due to IRMAA. $238*12 = $2,856 - $800 = $2,056 x 2 = $4,112 per year for both of us. Once the RMDs begin at age 72 we will be well within the higher premium of $238 per month per person.
I guess it boils down to: Is it worth it to pay $4,112 per year in Part B premiums to avoid paying up to the $13,000 out of pocket max for the years we are in really bad health?
Does anyone have any input on how to decide what to do? I obviously have analysis paralysis.
I have been on BCBS Basic for 25+ years. I had a brain aneurysm procedure in 2002, I don't recall what it cost out of pocket, but it wasn't bad. I have had three colonoscopies which again cost very little. Three years ago I had my appendix removed and that cost me $300 plus a $30 copay and two years ago I had a pre-cancerous thingie removed from my eye which cost $400 plus a $40 copay.
I have only had one doctor who didn't accept BCBS in 25+ years; BCBS Basic has served me well.
I have read the past posts on here and FedSoup et al regarding the decision to pick up Medicare Part B or not. I also read the Checkbook Guide to Health Plans for Federal Employees (they recommend not picking Part B up).
My BCBS coverage so far has been excellent so I am not sure paying for the Part B premium will be worth it.
If we don't do any Roth conversions our Part B premiums will be $170 per month minus the BCBS kickback of $800 per year. 170*12 = $2040 - $800 = $1,240 x 2 = $2,480 per year in Part B premiums for both of us.
By age 70, when Social Security begins, We will be in the $238 per month premium due to IRMAA. $238*12 = $2,856 - $800 = $2,056 x 2 = $4,112 per year for both of us. Once the RMDs begin at age 72 we will be well within the higher premium of $238 per month per person.
I guess it boils down to: Is it worth it to pay $4,112 per year in Part B premiums to avoid paying up to the $13,000 out of pocket max for the years we are in really bad health?
Does anyone have any input on how to decide what to do? I obviously have analysis paralysis.